CHINA'S INVESTMENTS TO VIETNAM BOOM AS XI VISITS HANOI, US SPENDING DOWN

Chinese investments in Vietnam have boomed this year in contrast to a slowdown in U.S. spending and trade, official data show, as the world's two largest economies vie for influence in the strategic Southeast Asian country.

The manufacturing hub stretching along the South China Sea is increasingly a key assembling link in global supply chains that often rely on Chinese components and U.S. consumers. U.S. President Joe Biden achieved an upgrade of diplomatic relations with the former foe in a visit to Hanoi in September, after a year of intense diplomatic efforts to elevate the United States to the same tier as China in Vietnam's ranking.

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