The ongoing US-China trade war threatens to dent exports from the world's two largest economies but other countries may see Chinese and American demand diverted their way. Vietnam is one of the places most expected to benefit from the trade war-inspired buying. The Southeast Asian nation has been touted as a possible winner in the US-China trade war because of its low cost of manufacturing. Some companies have already begun shifting production out of China to avoid tariffs imposed by America.

Vietnam will likely benefit from those adjusted supply chains for a long time. It is now set to be kind of a China 2.0 for various reasons. While firms have been limited by the logistical constraints of relocating and building new facilities in Vietnam, the country has begun to see new orders flooding into its existing industries that have some capacity for increased production.

Big export orders are flowing into the seafood, and the furniture and the garment industry. People have started to divert business away from China. Vietnam’s companies have good earnings growth and are trading at a price-to-earnings ratio of around 12 times, which is lower than in neighboring countries. Vietnam unseated Singapore as Southeast Asia's top grossing market for initial public offerings in 2018.