China's investments to Vietnam boom as Xi visits Hanoi, US spending down

Chinese President Xi Jinping will travel to Vietnam next week with the aim of further deepening ties. - PHOTO: REUTERS

HANOI (Reuters): Chinese investments in Vietnam have boomed this year in contrast to a slowdown in US spending and trade, official data show, as the world's two largest economies vie for influence in the strategic Southeast Asian country.

The manufacturing hub stretching along the South China Sea is increasingly a key assembling link in global supply chains that often rely on Chinese components and U.S. consumers.