Vietnam is emerging as a winner from the era of deglobalisation

Antony to swaggers between the rows of humming machines in his factory in Bac Ninh province, in Vietnam’s north-east, as they spit out blistering-hot bits of plastic. His firm, Hanpo Vina, ships the bits to the Samsung plant down the road as well as to nearby makers of printers, speakers, laptops and other electronic items. Mr To picks a Brazil-bound Samsung phone charger from a counter and displays it proudly. On the back, laser-etched in Portuguese, is a version of that familiar stamp of globalisation: Fabricado no Vietname.