Inflation in the West forces Vietnam factory lay-offs

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Lay-offs have swept through Vietnam’s manufacturing hubs as Western countries experience a drop in consumer demand. The purchasing power of shoppers in the United States and Europe, the two major Western markets for goods produced in Vietnam, has plummeted due to inflation and soaring energy costs caused by the war in Ukraine. Workers said their situation is even bleaker than during the start of the Covid-19 pandemic.

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