[Regarding Hanoi's market reforms Doi Moi in 1986] Vietnam's choice to liberalize its economy was one made out of desperation...Vietnam's socialist experiment was failing, growth was at a standstill and inflation was running at something like 500% per annum. The regime had no choice but to reform if they wanted to survive.
[Trump's withdrawal from the Trans-Pacific Partnership] had a devastating impact on US credibility in the region. This has been further exacerbated by the lack of any clear articulation of a new economic engagement strategy by the current administration. The perception of US decline is causing [TPP nations] to hedge by seeking greater cooperation or improved relations with China.
[The White House's demonstrated commitment to Southeast Asia could] foster conditions that enable constructive multilateral engagement with China in the Asia-Pacific, helping to mitigate strategic rivalry between Washington and Beijing over the long term.
[The Vietnamese Prime Minister's visit to Washington] adds momentum to a U.S.-Vietnam relationship that is moving in an increasingly strategic direction. [The visit occurs] in the context of rising Chinese influence and growing concerns about the U.S. staying power in the region, particularly after [U.S.] withdrawal from the Trans-Pacific Partnership.