The Prague Post - China, Vietnam sign agreements after Xi warns protectionism 'leads nowhere'

EUR -
AED 4.313974
AFN 80.547575
ALL 97.43497
AMD 449.730626
ANG 2.102304
AOA 1077.171309
ARS 1492.791928
AUD 1.764032
AWG 2.116753
AZN 1.997541
BAM 1.955498
BBD 2.367735
BDT 143.357886
BGN 1.958425
BHD 0.442032
BIF 3495.360819
BMD 1.174669
BND 1.502568
BOB 8.10275
BRL 6.532918
BSD 1.172619
BTN 101.493344
BWP 15.744571
BYN 3.837608
BYR 23023.508484
BZD 2.355537
CAD 1.60865
CDF 3393.618188
CHF 0.926898
CLF 0.028411
CLP 1114.548074
CNY 8.403552
CNH 8.419421
COP 4775.56334
CRC 592.408617
CUC 1.174669
CUP 31.128723
CVE 110.247994
CZK 24.570488
DJF 208.817789
DKK 7.463499
DOP 71.149025
DZD 152.157529
EGP 57.684102
ERN 17.620032
ETB 163.190927
FJD 2.634488
FKP 0.873886
GBP 0.867394
GEL 3.183454
GGP 0.873886
GHS 12.25411
GIP 0.873886
GMD 84.575738
GNF 10176.430224
GTQ 9.000612
GYD 245.342154
HKD 9.220684
HNL 30.706263
HRK 7.537609
HTG 153.886262
HUF 396.849551
IDR 19217.346638
ILS 3.939604
IMP 0.873886
INR 101.616249
IQD 1536.163038
IRR 49468.241835
ISK 142.276027
JEP 0.873886
JMD 187.051146
JOD 0.832875
JPY 173.446916
KES 151.506629
KGS 102.547076
KHR 4697.275417
KMF 491.578229
KPW 1057.20192
KRW 1624.960429
KWD 0.358662
KYD 0.977249
KZT 639.00143
LAK 25279.100545
LBP 105069.992316
LKR 353.815422
LRD 235.113732
LSL 20.81239
LTL 3.468492
LVL 0.710545
LYD 6.330024
MAD 10.545173
MDL 19.723957
MGA 5179.201077
MKD 61.550505
MMK 2466.138379
MNT 4214.431849
MOP 9.481137
MRU 46.800781
MUR 53.341668
MVR 18.087317
MWK 2033.386338
MXN 21.791575
MYR 4.958862
MZN 75.131774
NAD 20.81239
NGN 1799.510455
NIO 43.153343
NOK 11.939521
NPR 162.388951
NZD 1.952023
OMR 0.45182
PAB 1.172619
PEN 4.153359
PGK 4.86025
PHP 67.131949
PKR 332.30154
PLN 4.249145
PYG 8783.645069
QAR 4.274541
RON 5.067644
RSD 117.131932
RUB 93.035649
RWF 1695.03853
SAR 4.407248
SBD 9.732243
SCR 16.618437
SDG 705.386032
SEK 11.18223
SGD 1.503814
SHP 0.923105
SLE 26.958871
SLL 24632.222042
SOS 670.196618
SRD 43.06747
STD 24313.272517
STN 24.496221
SVC 10.260417
SYP 15272.795461
SZL 20.804791
THB 38.023791
TJS 11.198873
TMT 4.123087
TND 3.423472
TOP 2.751192
TRY 47.660231
TTD 7.97377
TWD 34.632522
TZS 3004.93647
UAH 49.031737
UGX 4204.351453
USD 1.174669
UYU 46.972754
UZS 14837.711193
VES 141.281409
VND 30711.715781
VUV 139.313268
WST 3.217404
XAF 655.85583
XAG 0.030777
XAU 0.000352
XCD 3.174601
XCG 2.113374
XDR 0.815674
XOF 655.85583
XPF 119.331742
YER 283.035904
ZAR 20.886665
ZMK 10573.453177
ZMW 27.351781
ZWL 378.242874
  • RIO

    -0.7300

    63.1

    -1.16%

  • SCU

    0.0000

    12.72

    0%

  • SCS

    0.0700

    10.58

    +0.66%

  • RBGPF

    -1.1200

    73.88

    -1.52%

  • CMSD

    0.0400

    22.89

    +0.17%

  • BCC

    1.7100

    88.14

    +1.94%

  • CMSC

    0.0550

    22.485

    +0.24%

  • BCE

    -0.2300

    24.2

    -0.95%

  • RELX

    -0.9800

    52.73

    -1.86%

  • JRI

    -0.0600

    13.09

    -0.46%

  • GSK

    -0.2600

    37.97

    -0.68%

  • NGG

    -0.0800

    72.15

    -0.11%

  • BTI

    -0.3700

    52.25

    -0.71%

  • RYCEF

    -0.0400

    13.2

    -0.3%

  • BP

    0.0700

    32.2

    +0.22%

  • VOD

    -0.0900

    11.43

    -0.79%

  • AZN

    -1.0200

    72.66

    -1.4%

China, Vietnam sign agreements after Xi warns protectionism 'leads nowhere'
China, Vietnam sign agreements after Xi warns protectionism 'leads nowhere' / Photo: NHAC NGUYEN - POOL/AFP

China, Vietnam sign agreements after Xi warns protectionism 'leads nowhere'

China and Vietnam signed dozens of cooperation agreements Monday, strengthening ties between the communist-run countries after Chinese leader Xi Jinping warned that protectionism "leads nowhere" and that a trade war would have "no winners".

Text size:

Xi is in Vietnam for the first leg of a Southeast Asia tour, as Beijing tries to present itself as a stable alternative to an erratic US President Donald Trump, who announced -- and then mostly reversed -- sweeping tariffs this month.

The Chinese president was welcomed to Hanoi Monday with a 21-canon salute, a guard of honour and rows of flag-waving children at the presidential palace, before holding talks with Vietnam's top leaders including General Secretary To Lam.

The two neighbours signed around 40 cooperation agreements. Details were not immediately available but prior to the visit it was expected that deals would be reached in areas including trade and aviation.

Xi's visit comes almost two weeks after the United States -- manufacturing powerhouse Vietnam's biggest export market in the first three months of the year -- slapped a 46 percent levy on Vietnamese goods as part of a global trade blitz.

Although the reciprocal tariffs on Vietnam and most other countries have been paused, China still faces enormous levies and is seeking to tighten regional trade ties and offset their impact during Xi's first overseas trip of the year.

Xi is in Vietnam Monday and Tuesday, before visiting Malaysia and Cambodia on a tour that "bears major importance" for the broader region, Beijing has said.

Speaking during a meeting with Lam Monday, Xi said Vietnam and China were "standing at the turning point of history... and should move forward with joint hands."

Xi earlier urged the two countries to "resolutely safeguard the multilateral trading system, stable global industrial and supply chains, and open and cooperative international environment".

He also reiterated Beijing's line that a "trade war and tariff war will produce no winner, and protectionism will lead nowhere" in an article published on Monday in Vietnam's major state-run Nhan Dan newspaper.

Vietnam's top leader To Lam said in an article posted on the government's news portal on Monday that his country "is always ready to join hands with China to make cooperation between the two countries more substantive, profound, balanced and sustainable".

- 'Bamboo diplomacy' -

Vietnam was Southeast Asia's biggest buyer of Chinese goods in 2024, with a bill of $161.9 billion, followed by Malaysia with Chinese imports worth $101.5 billion.

Firming up ties with Southeast Asian neighbours could also help offset the impact from a closed United States, the largest single recipient of Chinese goods last year.

Xi is visiting Vietnam for the first time since December 2023.

China and Vietnam, both ruled by communist parties, already share a "comprehensive strategic partnership", Hanoi's highest diplomatic status.

Vietnam has long pursued a "bamboo diplomacy" approach -- striving to stay on good terms with both China and the United States.

The two countries have close economic ties, but Hanoi shares US concerns about Beijing's increasing assertiveness in the contested South China Sea.

China claims almost all of the South China Sea as its own but its claims are disputed by the Philippines, Malaysia, Vietnam, Indonesia and Brunei.

The Chinese leader insisted in his article on Monday that Beijing and Hanoi could resolve those disputes through dialogue.

"We should properly manage differences and safeguard peace and stability in our region," Xi wrote.

"With vision, we are fully capable of properly settling maritime issues through consultation and negotiation," he said.

Vietnam's Lam said in his article on the government news portal that "joint efforts to control and satisfactorily resolve disagreements... is an important stabilizing factor in the current complex and unpredictable international and regional situation".

After Vietnam, Xi will visit Malaysia from Tuesday to Thursday.

Malaysian Communications Minister Fahmi Fadzil said Xi's visit was "part of the government's efforts... to see better trade relations with various countries including China".

Xi will then travel on Thursday to Cambodia, one of China's staunchest allies in Southeast Asia and where Beijing has extended its influence in recent years.

burs-aph/tc

X.Vanek--TPP