Southeast Asian Exporters Step Up as China Locks Down
China’s strict “zero-Covid” strategy to contain the worst outbreak of the virus since early 2020 has caused logistics and supply-chain snarl-ups that are hurting output and exports.
But it’s likely contributing to a boom in overseas shipments from rival Asian economies that have already lifted pandemic controls and restarted production, allowing their companies to pick up the slack. Vietnam — one of China’s main competitors in goods manufacturing — reported a 25.2% year-on-year jump in exports in dollar terms in April, accelerating from a 16.7% pace in March, figures compiled by economic data provider CEIC show.
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