communists look to Biden to offset growing Chinese power

HANOI (BLOOMBERG) – As officials in Vietnam’s Communist Party jockey for position during a twice-a-decade meeting to refresh the leadership ranks, they largely agree on one thing: Closer ties with the US are set to become even more important to grow the economy and counter a rising China. The new leaders, set to be announced on Feb 2, will be tasked with meeting a goal to turn Vietnam into an industrialised economy by 2030 with an annual economic growth of around 7 per cent and a per-capita of US$7,500 (S$9,960), or about double what it is today. A good relationship…