According to a report by Vietnam Youth Network on September 16, Nguyen Van Tuan, chairman of the Vietnam Cotton Yarn Association, said on the 16th that if the United States imposes sanctions on China’s Xinjiang cotton, many Southeast Asian countries will be the first to be affected. , because China is the world’s largest cotton exporter, and about 85% is produced in Xinjiang. Three of the seven countries that import the most cotton yarn from China are in Southeast Asia.
He said that Vietnam is currently the world’s second largest cotton importer, 65% of which is imported from the United States, 15% from India, and 10% from Africa. Chinese cotton’s share is very small. However, Vietnam’s current annual demand for clothing fabrics is about 10 billion cubic meters, and the country can only provide about 3.5 billion cubic meters. The remaining 6.5 billion cubic meters need to be imported, of which about 65% comes from China. Therefore, U.S. sanctions may force Vietnamese companies to replace fabrics imported from China with fabrics from South Korea, Thailand, Japan and other countries. However, since China still has huge production capacity and price advantages, it is unrealistic to completely replace Chinese fabrics. </p
