Everyone is trying to woo Vietnam. Why Hanoi’s ‘bamboo policy’ works.

Vietnam has become the flavor of the year for the world’s geopolitical rivals.

In September, U.S. President Joe Biden visited the Southeast Asian powerhouse, signing a comprehensive strategic partnership that places Washington’s relations with Vietnam on par with Beijing’s. China’s leader, Xi Jinping, earlier this month followed suit, with the two nations signing 37 agreements, including China funding a cross-border railway and holding joint maritime patrols. The neighbors also agreed on a three-year plan to boost trade.

Both the U.S. and China are eager to drag Hanoi to their side — but the communist country should stick to its long stance of nonalignment and act in its own best interests. This multipolar foreign-policy strategy will ensure the nation exerts agency in dealing with the two largest economies. It could also use the influence it has with both to bring them closer together and work on issues of global importance, such as climate change, future pandemics and the use of nuclear weapons.