中国企业在越南出现显著扩张趋势。东风玩具厂位于河内以南约两小时车程的富禄，被中国管理层与风水布局主导，象征跨境控制的延伸。美国对越南商品征收20%关税，低于对中国出口征收的31%平均税率及此前威胁的145%上限，促使Learning Resources Inc.在贸易战背景下进行供应链转移。该公司管理层在越南展开一周考察，访问十余家工厂，以削减对中国制造的依赖，同时继续应对针对特朗普关税的诉讼过程。产业迁移的表面目标是规避关税，但生产体系与人员结构显示对中国技术与资本的深层依赖。
越南制造业在过去十多年中由低价值纺织品与鞋类扩展为高技术出口中心，年度出口总额达到4050亿美元，其中约30%面向美国，使越南成为美国第三大贸易顺差来源。富禄地区原本因战争被严重破坏，长期依赖劳动密集型农业，如稻米与木薯。随着三星、BYD与Foxconn等制造商入驻，大规模农田被改建为工业园区，推动区域转型。越南去年吸引逾250亿美元外资，其中近30%来自中国，显示中国资金的结构性主导。越南北部的语言环境、酒店租用与工业园投资都呈现实质性华人工作群体的集中。
越中关系虽然在1979年发生边境冲突，并伴随越南境内华裔受到骚扰与驱逐，但当前工业化进程使历史紧张几乎被生产需求掩盖。新建公路与工厂持续增加，城市夜间街区出现大量中文标识，为中国工程师与管理人员提供服务。整体趋势显示，供应链迁移虽减少地缘政治风险暴露，但制造能力、资本输入与管理结构依然高度依赖中国体系。
Chinese firms exhibit a significant expansion trend in Vietnam. The Dong Phuong toy factory in Phu Ly, two hours south of Hanoi, is dominated by Chinese management and feng-shui-oriented design, reflecting cross-border operational influence. The US levies a 20% tariff on Vietnamese goods, lower than the 31% average rate on Chinese exports and the earlier threatened 145% ceiling, prompting Learning Resources Inc. to shift production during the trade war. Its leadership is conducting a weeklong survey of more than a dozen Vietnamese factories to reduce dependence on China while continuing litigation over Trump-era tariffs. The apparent aim is tariff avoidance, yet production systems and labor structures demonstrate deep reliance on Chinese expertise and capital.
Vietnam’s manufacturing sector has expanded from low-value textiles and shoes into a high-technology export center, reaching a record USD 405 billion in annual shipments, with about 30% going to the US, making Vietnam the third-largest US trade-surplus partner. Phu Ly, long dependent on labor-intensive crops such as rice and cassava and heavily damaged during the war, has undergone rapid conversion as Samsung, BYD, and Foxconn built facilities. Vietnam attracted more than USD 25 billion in foreign investment last year, with nearly 30% from China, indicating structural dominance of Chinese capital. Northern Vietnam’s linguistic environment, hotel occupancy patterns, and industrial-park activity reveal concentrated Chinese workforces.
Despite a 1979 border conflict and prior harassment and expulsions of ethnic Chinese, ongoing industrialization has muted historical tensions. New highways and factories continue to proliferate, and nighttime districts display Chinese signage catering to engineers and managers. The overall trend shows that supply-chain relocation reduces geopolitical exposure but manufacturing capacity, capital inputs, and managerial structures remain tightly bound to Chinese systems.