China Ripple Effect

The NY Times reports:

"a growing number of multinational corporations are pursuing a strategy that companies and analysts call “China plus one,” establishing or expanding Asian bases outside China, particularly in Vietnam. "

The effect might be akin to Japan's impact on the growth of the four Asia tigers in the late 1970s and 1980s as they began shedding labor-intensive industries to their neighbors....except China will create big waves that could transform countries like Vietnam and Bangladesh.