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The US–China confrontation has been undertaking a great change ever since the end of the Cold War. The two superpowers are embarking in a comprehensive confrontation in various spheres: trade, investment, technology, security, ideology, and so on. In order to avoid being a political pawn in the game of great powers, Vietnam consistently conducts the policy of non-taking side and hedging strategy between China and the US, economically and politically. This strategy is a successful integrated combination of bandwagoning and balancing policies comprehensively. It has so far helped Vietnam to take advantages of its geo-politics for better economic development and at the same time to reduce negative influences and pressures from both powers on its national autonomy and independence.

The Political Economy of Vietnam and Its Development Strategy under China–USA Power Rivalry and Hegemonic Competition: Hedging for Survival