Like thousands of other factory owners in Vietnam, Nguyen Van Phuc relies on China for the expertise and raw materials needed to keep his production line humming. But spiking tensions between Hanoi and Beijing over maritime territorial claims are threatening that relationship and his bottom line.
Chinese technicians scheduled to upgrade his equipment are too spooked to visit following anti-China violence. His Chinese suppliers no longer accept cash on delivery, fearing an even sharper deterioration in relations would leave them out of pocket, so Phuc must now pay more from a third-party supplier.
“One hundred percent of Vietnamese companies just want to have peace to do their business,” he said at his electric cable company in Vietnam’s capital, Hanoi.
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Associated Press via CHINA US Focus http://ift.tt/1rHrbzZ
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