{"id":517,"date":"2024-11-01T13:21:57","date_gmt":"2024-11-01T13:21:57","guid":{"rendered":"https:\/\/demo2024.web3b.com\/maslow\/?p=517"},"modified":"2024-11-04T03:14:22","modified_gmt":"2024-11-04T03:14:22","slug":"tieu-de-bai","status":"publish","type":"post","link":"https:\/\/demo2024.web3b.com\/maslow\/2024\/11\/01\/tieu-de-bai\/","title":{"rendered":"Philippine, Vietnamese exports to U.S. jump as supply chains shift"},"content":{"rendered":"<p class=\"Paragraph_paragraph__2p1wC\">TOKYO &#8212; ASEAN&#8217;s exports to the U.S. topped those to China for the second consecutive quarter\u00a0in the April to June period, underscoring America&#8217;s growing importance to the region\u00a0as the U.S.-China trade war intensifies and China&#8217;s economy slows,\u00a0prompting\u00a0 shifts in global supply chains.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">Nikkei Asia compiled trade data primarily based on statistics from the ASEAN Secretariat and\u00a0complemented by figures from national\u00a0statistical agencies. Local media reports were also consulted to verify data and provide additional context.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">The\u00a0data shows the 10 ASEAN member countries&#8217; exports to the U.S. reached $74 billion in the April to June quarter, up 11% from the same period a year ago, topping its China-bound exports of $71 billion, 3%\u00a0higher on the year.<\/p>\n<div class=\"no-print InlineAd_inlineAd__9lUP7\" data-testid=\"inline-ad\">\n<div class=\"no-print \" data-testid=\"ad-lazy\">\n<div id=\"6wa8d22dhp\" data-google-query-id=\"COaxgMbGuokDFeqG6QUd5J4lew\">\n<div id=\"google_ads_iframe_7049\/NikkeiFT_PC_Upper_Medium_rectangle_2__container__\"><iframe id=\"google_ads_iframe_7049\/NikkeiFT_PC_Upper_Medium_rectangle_2\" tabindex=\"0\" title=\"3rd party ad content\" name=\"google_ads_iframe_7049\/NikkeiFT_PC_Upper_Medium_rectangle_2\" width=\"300\" height=\"250\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" aria-label=\"Advertisement\" data-load-complete=\"true\" data-google-container-id=\"f\" data-mce-fragment=\"1\"><\/iframe><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"Paragraph_paragraph__2p1wC\">Among the region&#8217;s major economies, the Philippines saw the highest year-on-year increase in exports to the U.S., rising 35%, followed by Vietnam at 24% and Malaysia at 11%.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">&#8220;Aside from the resilient performance of the U.S. economy, which implies more demand from most other countries, this [increase] could be a result of pivots in global <a class=\"Link_link__qPD1b\" title=\"\" href=\"https:\/\/asia.nikkei.com\/Spotlight\/Supply-Chain\" target=\"_blank\" rel=\"noopener\">supply chains<\/a> away from China since the pandemic,&#8221; said Jun Neri, lead economist at the Bank of the Philippine Islands.<\/p>\n<div class=\"align-center ez-embed-type-image\">\n<div class=\"article__image article__image--lightbox article__image--inline\" data-trackable=\"image-inline\"><img decoding=\"async\" class=\"ImageNew_imageNewImageResponsive__f1VTu ImageLightbox_inlineImage__2CVxu\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%252Fimages%252F8%252F6%252F4%252F8%252F48408468-1-eng-GB%252Fasea-ns-exports-to-china-and-u-s.png%3Fsource%3Dnar-cms?width=780&amp;fit=cover&amp;gravity=faces&amp;dpr=2&amp;quality=medium&amp;source=nar-cms&amp;format=auto\" alt=\"alt\" width=\"780\" height=\"auto\" \/><\/div>\n<\/div>\n<p class=\"Paragraph_paragraph__2p1wC\">Neri\u00a0also pointed out that &#8220;China&#8217;s prolonged lockdown [during COVID] led many countries to &#8220;reshore&#8221;\u00a0or &#8220;nearshore,&#8221; moving\u00a0production back home or to\u00a0nearby countries.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">When it comes to semiconductors and machinery, based on the World Customs Organization&#8217;s classification, Vietnam&#8217;s exports to the U.S. rose 41%, year on year, in the second quarter, followed by the Philippines, whose shipments climbed\u00a036%.\u00a0Thailand&#8217;s\u00a0were up\u00a016%\u00a0and Malaysia&#8217;s\u00a0rose 9%.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">Washington&#8217;s restrictions on Chinese imports, particularly those imposed on advanced semiconductors in October 2022, have caused a restructuring of global supply chains that reduces\u00a0dependence on China.<\/p>\n<div class=\"align-center ez-embed-type-image\">\n<div class=\"article__image article__image--lightbox article__image--inline\" data-trackable=\"image-inline\"><img decoding=\"async\" class=\"ImageNew_imageNewImageResponsive__f1VTu ImageLightbox_inlineImage__2CVxu\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%252Fimages%252F2%252F0%252F5%252F8%252F48408502-5-eng-GB%252Fsemiconductor-machinery-related-items-exports%2B%25283%2529.png%3Fsource%3Dnar-cms?width=780&amp;fit=cover&amp;gravity=faces&amp;dpr=2&amp;quality=medium&amp;source=nar-cms&amp;format=auto\" alt=\"alt\" width=\"780\" height=\"auto\" \/><\/div>\n<\/div>\n<p class=\"Paragraph_paragraph__2p1wC\">Vietnam is a prime a beneficiary of the U.S.-China trade tensions, drawing new foreign investment from exporters seeking to cut China out of their supply chains.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">Hana Micron Vina, a South Korean chipmaker, built\u00a0a factory in the northern province of Bac Giang in September 2023. According to local news outlet VnEconomy, the company plans to increase the total value of\u00a0its investments in Vietnam<strong>\u00a0<\/strong>to more than $1 billion in 2025, up from $600 million in 2022.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">South Korean conglomerate SK Group bought a semiconductor manufacturing and trading company, Iscvina Manufacturing, in the northern province of Vinh Phuc in a $300 million deal. In early October, Hang Sung Won, manager of SK Group Vietnam, visited the province and announced the deal.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\"><a class=\"Link_link__qPD1b\" title=\"\" href=\"https:\/\/asia.nikkei.com\/Business\/Business-trends\/Vietnam-s-tourism-hot-spot-becomes-foreign-investment-hub\" target=\"_blank\" rel=\"noopener\">Northern Vietnam is close to the Chinese border<\/a>, hence,\u00a0many semiconductor makers and other\u00a0tech companies have set up factories there, taking advantage of China&#8217;s supply chain and making it easy to export from Lach Huyen International Port, a large port that opened in 2018. Samsung Electronics also has large factories in Bac Ninh and Thai Nguyen provinces in the north of the country.<\/p>\n<div class=\"align-center ez-embed-type-image\">\n<div class=\"article__image article__image--lightbox article__image--inline\" data-trackable=\"image-inline\"><img decoding=\"async\" class=\"ImageNew_imageNewImageResponsive__f1VTu ImageLightbox_inlineImage__2CVxu\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%252Fimages%252F5%252F8%252F4%252F8%252F48408485-4-eng-GB%252Fpercentage-change-in-asean-5-exports-in-2024-q-2%2B%25281%2529.png%3Fsource%3Dnar-cms?width=780&amp;fit=cover&amp;gravity=faces&amp;dpr=2&amp;quality=medium&amp;source=nar-cms&amp;format=auto\" alt=\"alt\" width=\"780\" height=\"auto\" \/><\/div>\n<\/div>\n<p class=\"Paragraph_paragraph__2p1wC\">Barry Weisblatt, head of research at VNDIRECT\u00a0Securities, pointed out that the strong U.S. economy alone cannot explain the growth of\u00a0Vietnamese exports to the U.S., saying Vietnam is &#8220;clearly&#8221; increasing its share of the country&#8217;s total imports.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">&#8220;Vietnam&#8217;s steadily improving diplomatic relations with the U.S., and Vietnam&#8217;s low-cost but highly skilled workforce&#8221; helped expand its exports, he said. &#8220;Now, the escalating U.S.-China trade war has made Vietnam&#8217;s manufacturing sector even more competitive. We expect these trends to continue regardless of who wins the U.S. [presidential] election.&#8221;<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">Looking ahead, Malaysia is poised to increase its semiconductor exports to the U.S. and other parts of the world as the government has been working to foster the semiconductor industry, positioning itself as a politically <a class=\"Link_link__qPD1b\" title=\"\" href=\"https:\/\/asia.nikkei.com\/Business\/Tech\/Semiconductors\/Malaysian-trade-minister-touts-neutrality-to-grow-chip-industry\" target=\"_blank\" rel=\"noopener\">neutral hub<\/a> for global manufacturers.<\/p>\n<div class=\"align-center ez-embed-type-image\">\n<div class=\"article__image article__image--lightbox article__image--inline\" data-trackable=\"image-inline\"><img decoding=\"async\" class=\"ImageNew_imageNewImageResponsive__f1VTu ImageLightbox_inlineImage__2CVxu\" src=\"https:\/\/www.ft.com\/__origami\/service\/image\/v2\/images\/raw\/https%3A%2F%2Fwww.ft.com%2F__origami%2Fservice%2Fimage%2Fv2%2Fimages%2Fraw%2Fhttps%253A%252F%252Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%252Fimages%252F5%252F1%252F1%252F1%252F47751115-3-eng-GB%252F_DSF2405.jpg%3Fsource%3Dnar-cms?width=780&amp;fit=cover&amp;gravity=faces&amp;dpr=2&amp;quality=medium&amp;source=nar-cms&amp;format=auto\" alt=\"alt\" width=\"780\" height=\"auto\" \/><span class=\"article__caption\">Malaysian Prime Minister Anwar Ibrahim speaks at a semiconductor event in Kuala Lumpur\u00a0on May 28. (Photo by Norman Goh) <\/span><\/div>\n<\/div>\n<p class=\"Paragraph_paragraph__2p1wC\">In May, <a class=\"Link_link__qPD1b\" title=\"\" href=\"https:\/\/asia.nikkei.com\/Business\/Tech\/Semiconductors\/Malaysia-to-train-60-000-engineers-in-bid-to-become-chip-hub\" target=\"_blank\" rel=\"noopener\">Malaysian\u00a0Prime Minister Anwar Ibrahim announced<\/a>\u00a0that his the government would allocate at least 25 billion ringgit ($5.7\u00a0billion) over the next five to 10 years to develop talent and local companies.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">In August, top European chipmaker <a class=\"Link_link__qPD1b\" href=\"https:\/\/asia.nikkei.com\/Business\/Tech\/Semiconductors\/Infineon-opens-largest-power-semiconductor-plant-in-Malaysia\">Infineon<\/a>\u00a0began\u00a0production\u00a0at its largest\u00a0power chip plant in Malaysia. The plant in Kulim will be the world&#8217;s biggest\u00a0silicon carbide (SiC) plant when it reaches full capacity over the next five years, the company said. Infineon is eyeing demand from the renewable energy sector and applications such as electric vehicles and AI data centers.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\">Thailand, which has been known as the &#8220;Detroit of Asia&#8221; since\u00a0the 1960s for its large auto industry, is also <a class=\"Link_link__qPD1b\" href=\"https:\/\/asia.nikkei.com\/Business\/Tech\/Semiconductors\/Thailand-to-move-up-semiconductor-value-chain-with-first-front-end-fab\">fostering its semiconductor industry<\/a> as the industry undergoes shifts such as the move toward electric vehicles.<\/p>\n<p class=\"Paragraph_paragraph__2p1wC\"><em>Additional reporting by Kim Dung Tong in Ho Chi Minh City and Ramon Royandoyan in Manila.<\/em><\/p>\n<p>Sources: Nikkei Asia<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TOKYO &#8212; ASEAN&#8217;s exports to the U.S. topped those to China for the second consecutive quarter\u00a0in the April to June period, underscoring America&#8217;s growing importance to the region\u00a0as the U.S.-China trade war intensifies and China&#8217;s economy slows,\u00a0prompting\u00a0 shifts in global supply chains. Nikkei Asia compiled trade data primarily based on statistics from the ASEAN Secretariat&#8230;<\/p>\n","protected":false},"author":2,"featured_media":718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[7,8,9,10],"class_list":["post-517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-maslow","tag-news","tag-nikkei","tag-vietnam"],"_links":{"self":[{"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/posts\/517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/comments?post=517"}],"version-history":[{"count":15,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/posts\/517\/revisions"}],"predecessor-version":[{"id":724,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/posts\/517\/revisions\/724"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/media\/718"}],"wp:attachment":[{"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/media?parent=517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/categories?post=517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo2024.web3b.com\/maslow\/wp-json\/wp\/v2\/tags?post=517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}