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Fortune
Fortune
Lionel Lim

'Independent actor' Vietnam is deftly navigating geopolitical tensions as both Biden and Xi make trips to Hanoi promising investment

(Credit: Nhac Nguyen/Pool—AFP via Getty Images)

Hanoi’s becoming a popular travel spot for world leaders. In the span of just three months, Vietnam has welcomed the leaders of two major powers: first U.S. President Joe Biden in September, then Chinese president Xi Jinping this week.

Xi brought a lot of economic carrots with him for his first trip to China's southern neighbor since 2017. During his visit on Tuesday and Wednesday, the two countries signed 36 cooperation pacts, including potential investments in infrastructure sectors like railways and telecoms. Xinhua, a Chinese state media outlet, proclaimed that Vietnam and China were building a community with a “shared future.”

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