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Factories have seen orders canceled in Vietnam, the Asian country most exposed to global swings in trade after Singapore.    © Reuters
Business Spotlight

Vietnam's manufacturers brace for worse after GDP whiplash

Factory downturn marks sharp reversal and bellwether for Asian supply-chain hub

LIEN HOANG, Nikkei staff writer | Vietnam

HO CHI MINH CITY -- This was supposed to be a good year for the fabric mesh manufacturer in Vietnam where James Lee works as a sales manager. As China relaxed its zero-COVID restrictions, businesses expected a jump in demand that would give the economy a shot in the arm.

Instead, orders are so slow at Lee's company, Daeduck Mesh Vina, which supplies fabrics for backpacks and caps, that he is looking for domestic buyers to replace the foreigners who are his usual clients.

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