This morning, we started our day with a visit to the Cat Lai shipping port. Shipping ports are the cornerstone of any economy and nation, providing access to imported goods. They accept and process massive volumes of crates every single day, and visiting one perspective on how much they process and how important they are. Within the context of business, I imagine this would mostly fall under supply chain management, and while I’m not a supply chain major, I have friends that are, and it’s incredible to think that they might work in managing these ports one day. 

It’s also interesting to think that all the world’s exports and imports are going through only a few of these ports, relative to the volume of imports. It makes me think more about events like the port workers strike from last year at a port in the US as well as tariffs. If tariffs are implemented, exports and imports will go down as demand drops, and activity in the ports will drop.

We discussed some of these larger economic trends today during our visit to the US Consulate in Ho Chi Minh City. The man we talked with gave a thorough summary of Vietnam’s economic development and how its developed rapidly in the global space in markets like electronics and textiles. Given Vietnam’s growth through foreign direct investment, higher costs in Vietnam and tariffs would very negatively impact the businesses that have moved there. Overall, it goes to show how even with the rapid development in the last few years, there are still challenges yet to overcome.

After our visit to the consulate, we then went to Ben Thanh market where you have to bargain and beg for lower prices. I was on the move for souvenirs and trinkets, but the ruthless Vietnamese ladies were out to rip me off for as much money as possible. Even after negotiating as much as half-off, I was still paying a premium for many goods according to my UEF counterparts. Either way, it was fun and a great way to practice my Vietnamese and negotiation skills as well as wrap up the day.