In many ways, China is the perfect partner for Hanoi’s rare earth processing industry ambitions. But standing in the way is Vietnam’s wariness of corporate exploitation and taking sides in the US-China rivalry, as well as its political turmoil.
China finds itself in need of its latest landmark reform as the urban-rural divide keeps growing and the broader economy is seeking new sources of growth. One possible solution is finding better uses for rural land and giving farmers the same legal rights as urban residents to rent, transfer or mortgage their land.