Many investors believe the current rally in Chinese stocks is built on shaky foundations, but there are reasons to think this surge could last. Data beating expectations indicates a stabilising economy, markets seem convinced by Beijing’s policy moves and the rally not disconnected from domestic fundamentals.
In many ways, China is the perfect partner for Hanoi’s rare earth processing industry ambitions. But standing in the way is Vietnam’s wariness of corporate exploitation and taking sides in the US-China rivalry, as well as its political turmoil.
The US is pressing China to end its support for Russia, but these efforts are futile as Beijing believes it would be next if and when Moscow is forced to back down. It is time for Washington policymakers to be realistic and start bargaining with China on a fairer basis if they want to achieve any of their aims.