Vietnam stands to benefit from MNCs’ efforts to diversify their production base beyond China. How much it will actually benefit, however, depends on how fast it can roll out measures to further improve its infrastructure and business environment.

This week, the USS Theodore Roosevelt will become the second US aircraft carrier to visit Vietnam since the end of the Vietnam War. While it is in Vietnam's interest to maintain a stable relationship with China due to strong economic ties, on matters of strategic interest, Vietnam finds no other power more compatible to work with than the US, to create a counterbalance against China.