The Political Economy of Vietnam and Its Development Strategy under China–USA Power Rivalry and Hegemonic Competition: Hedging for Survival

Van-Hoa Vu, Jenn-Jaw Soong and Khac-Nghia Nguyen

Chinese Economy, 2023, vol. 56, issue 4, 256-270

Abstract: The US–China confrontation has been undertaking a great change ever since the end of the Cold War. The two superpowers are embarking in a comprehensive confrontation in various spheres: trade, investment, technology, security, ideology, and so on. In order to avoid being a political pawn in the game of great powers, Vietnam consistently conducts the policy of non-taking side and hedging strategy between China and the US, economically and politically. This strategy is a successful integrated combination of bandwagoning and balancing policies comprehensively. It has so far helped Vietnam to take advantages of its geo-politics for better economic development and at the same time to reduce negative influences and pressures from both powers on its national autonomy and independence.

Date: 2023
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DOI: 10.1080/10971475.2022.2136690

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