Rise of Low-Cost Chinese Goods in Vietnamese Markets
Vietnam has seen a shift toward low-cost Chinese goods in its markets, leading many traders to prefer them over local products. The competitive pricing of Chinese imports, often five to twenty-five percent cheaper, has overtaken traditional Vietnamese markets and industries. Experts recommend measures like import taxes and support for local products to safeguard the Vietnamese economy.
In recent years, low-cost Chinese goods have gained significant market share in Vietnam, outpacing locally-made products primarily due to their lower wholesale prices and production costs.
In Ho Chi Minh City, traditional and wholesale markets like Tan Binh and An Dong are now filled with Chinese products such as clothing and accessories.
Retailers confirm that Chinese items account for up to eighty percent of the merchandise in these markets, as they sell for five to twenty-five percent less than Vietnamese equivalents.
This trend extends to other markets, such as Ba Chieu and Thu Duc, and has impacted local industries including traditional tailoring.
Online, Chinese goods are also preferred, as e-commerce and live streaming sales rise sharply.
Factors contributing to the cost disparity include Vietnam's reliance on Chinese imports for production materials and supply chain advantages that allow China to offer lower-priced goods.
Experts suggest solutions like import taxing below a certain value, supporting Vietnamese products online, and creating stringent product standards to protect local industries.
In Ho Chi Minh City, traditional and wholesale markets like Tan Binh and An Dong are now filled with Chinese products such as clothing and accessories.
Retailers confirm that Chinese items account for up to eighty percent of the merchandise in these markets, as they sell for five to twenty-five percent less than Vietnamese equivalents.
This trend extends to other markets, such as Ba Chieu and Thu Duc, and has impacted local industries including traditional tailoring.
Online, Chinese goods are also preferred, as e-commerce and live streaming sales rise sharply.
Factors contributing to the cost disparity include Vietnam's reliance on Chinese imports for production materials and supply chain advantages that allow China to offer lower-priced goods.
Experts suggest solutions like import taxing below a certain value, supporting Vietnamese products online, and creating stringent product standards to protect local industries.
