The relationship between countries has been on the rise of globalization being one of the leading factors. Globalization refers to the process through which international cooperation is gained through forces such as business and political cooperation. Vietnam and the United States have been looking to strengthening their relationship through business pacts (Gainsborough & Martin 2013). This paper shall be looking to measure the impact of globalization on the relationship between the United States and Vietnam by comparing looking at the trade agreements between the two countries in the period between 2010 and 2017.
According to Martin (2014), it was noted that the bilateral trade between the two countries increased from $220 million in 1994 to around $29 billion by the end of 2013. This was attributed to the close ties between the two countries that had continued to grow over the years. Also, the two countries are producers of products that both nations need hence the growth in exchange for finished products and services.
The inception of the transpacific partnership, an agreement that was negotiated between twelve countries could also add to the growing ties between the two countries (Hiebert, et al. 2014). By Vietnam agreeing to the trade pact, it was a contingent to gaining greater access to the united states market considering the ease of trade that was to be realized out of signing the TPP.
During the 2015 strategic meeting between the then United States president Barrack Obama and the general secretary of the Vietnamese communist party, there were fruitful negotiations that were realized. In a bid to realize a free trade world, Obama was able to lobby for the Vietnamese to legalize the independent labor unions (Manyin, 2018). This among other issues discussed during the meeting would see more cooperation being realized between the two countries. Also with the continued cooperation, it is expected that the two countries are going to continue benefiting further in the course as more opportunities continue to be realized.
References
Martin, Michael F. US Vietnam Economic and Trade Relations: Issues for the 112th Congress. DIANE Publishing, 2014.
Hiebert, Murray, Phuong Nguyen, and Gregory B. Poling. A new era in US-Vietnam relations: Deepening ties two decades after normalization. Rowman & Littlefield, 2014.
Gainsborough, Martin. Vietnam: Rethinking the state. Zed Books Ltd., 2013.
Manyin, Mark. “Vietnam among the Powers: Struggle and Cooperation.” In International Relations and Asia’s Southern Tier, pp. 207-227. Springer, Singapore, 2018.
