Vietnam and China trade brightens

• Published 28 Jan 2010

Two-way trade between China and Vietnam grew 8% in 2009 to $21bn – bucking the trend of a 14% slump in China’s trade with the world.

The frenetic scenes on China’s land border with Vietnam tell the story of a booming commercial relationship. At Puzhai, in Guangxi province on the Chinese side of the border, scores of US-made trucks from Vietnam queue bumper to bumper as they cross from Vietnam, their containers filled to the brim with goods. Going the other way are Chinese trucks from as far north as Shandong province, their drivers weary after a three-day drive. In an open-air market nearby, all manner of goods change hands – electronics and motorbike components from China in exchange for jade and tropical fruit from Vietnam. The medium of exchange, however, is uniform. The renminbi is the hard currency in these parts and the US dollar is nowhere to be seen.