Xi Jinping in Vietnam: 'Protectionism leads nowhere'

Protectionism 'leads nowhere' and a trade war will see no winners. In the midst of the trade war with the US, Chinese President Xi Jinping is set to make his first trip abroad today with stops in Vietnam, Malaysia and Cambodia to strengthen regional trade ties in the face of Donald Trump's tariffs. In an article in Vietnam's leading daily Nhan Dan, Xi urged the two countries to 'vigorously safeguard the multilateral trading system, the stability of global industrial and supply chains, and an open and cooperative international environment'.

Xi also reiterated Beijing's line that 'a trade war and a tariff war will produce no winners and protectionism will lead nowhere', according to the text released by the state-run Cctv network. And he called for greater cooperation with Vietnam in industrial supply chains and broader collaboration in emerging sectors through the various regional initiatives such as the East Asia Cooperation and the Lancang-Mekong Cooperation.

China also claims almost the entire South China Sea, having disputes with the Philippines, Malaysia, Vietnam, Indonesia and Brunei. On this point, Xi insisted that Beijing and Hanoi could resolve the related issues through dialogue. "We must properly manage our differences and safeguard peace and stability in our region. With a forward-looking vision, we are fully capable of properly resolving maritime issues through consultations and negotiations," the Chinese leader added. The Dragon is trying to present itself as a stable and reliable alternative to the unpredictability of Trump, who first announced and then largely froze for 90 days 'reciprocal tariffs' on dozens of trade partners, with the exception of China.

Vietnam was the largest buyer of Chinese goods in Southeast Asia, with a turnover of USD 161.9 billion, followed by Malaysia, which imported goods worth USD 101.5 billion in 2024. Vietnam has long pursued the 'bamboo diplomacy' approach, trying to maintain good relations with China and the US: it has close economic ties with the two countries, but Hanoi shares American concerns about Beijing's growing assertiveness in the disputed South China Sea.