Lam’s visit, his first overseas trip since assuming the presidency on April 7, is expected to deepen bilateral ties and produce multiple cooperation agreements, reflecting what both sides have described as a new phase of relations marked by stronger political trust and expanded security and economic collaboration.

The shift comes amid rising influence of security-focused leadership in Hanoi, with Lam, a former public security chief, consolidating power in a manner observers say mirrors China’s centralized governance structure.

His leadership marks a departure from Vietnam’s traditional model of collective decision-making.Analysts say Vietnam is pursuing a dual-track strategy, maintaining engagement with Western partners while increasingly adopting China-inspired policies domestically.

This includes a growing emphasis on state-led regulation, particularly in sensitive areas such as data governance and digital infrastructure.Draft policy documents indicate Vietnam is considering tighter controls over data flows, including the creation of state-run data exchanges overseen by security authorities, reflecting China’s centralized data management system.

Western governments and technology firms have raised concerns over such measures, particularly restrictions on cross-border data transfers.Technology cooperation has also intensified. Vietnam has eased earlier reservations over Chinese involvement in its telecommunications infrastructure, including potential partnerships linked to equipment providers associated with Huawei.

Discussions are also underway regarding Chinese investment in data centres and additional 5G development.The country is simultaneously expanding its national digital identification system, integrating artificial intelligence-driven surveillance networks, in a move analysts say parallels China’s approach to social monitoring and governance.

Economically, Vietnam is increasingly adopting state-driven strategies similar to China’s model, including subsidies, large-scale infrastructure projects and greater government intervention in financial markets. Proposals under consideration include a stabilization fund to support equity markets during downturns, drawing directly on Chinese precedent.

Despite these shifts, Vietnam continues to balance its geopolitical positioning, maintaining ties with the United States and other Western partners. However, China’s growing role in trade and investment is becoming more pronounced, with bilateral economic integration reaching record levels.

Experts warn that deeper alignment with China could have broader implications for Vietnam’s economic autonomy and international relationships, particularly if governance and regulatory convergence accelerates further.

Speaking at Tsinghua University, Sanchez said trade flows between China and the EU were “imbalanced” and called on Chinese authorities to open their markets to address a widening deficit. “We need China to open up so that Europe does not have to close itself off,” he said, adding that the deficit grew by 18 percent last year and posed risks over the medium to long term.

Sanchez’s visit, his fourth to China in four years, comes as Madrid seeks to position itself as a bridge between Beijing and the 27-member EU amid signs of strain in transatlantic relations. Recent tariff measures and policy shifts under Donald Trump have prompted several Western governments to pursue closer economic engagement with China.

Spain recorded a trade deficit of 42.3 billion euros ($49.1 billion) with China last year, with Sanchez noting that the shortfall accounts for 74 percent of the country’s overall trade deficit. Spain’s population of roughly 50 million contrasts with China’s more than 1.4 billion, underscoring the structural imbalance in bilateral trade.

The Spanish government is seeking improved access for agricultural and industrial exports and exploring opportunities for joint ventures in the technology sector. Officials also aim to attract Chinese investment into Spain and secure access to critical raw materials.

During the visit, Sanchez is scheduled to tour facilities linked to Xiaomi and the Chinese Academy of Sciences, before holding talks with senior Chinese leaders including President Xi Jinping and Premier Li Qiang.

The trip follows a period of diplomatic friction with Washington after Trump threatened to reduce trade ties with Spain, citing Madrid’s refusal to allow use of its military bases for U.S. strikes against Iran, a key Chinese economic partner.

Spain’s exports to China rose 6.8 percent in 2025, according to government data, reflecting strengthened bilateral engagement. During Sanchez’s previous visit in April 2025, Beijing agreed to expand market access for Spanish products including pork and cherries.

Chinese foreign ministry spokeswoman Mao Ning described Spain as “an important partner of China within the EU,” signaling Beijing’s willingness to deepen bilateral cooperation.

Sanchez’s trip highlights Spain’s effort to chart an independent foreign policy within Europe, positioning China as a strategic partner rather than a geopolitical rival, in contrast with Washington’s stance.

Trump has previously criticized Madrid over its refusal to grant landing rights for U.S. forces during the Iran conflict and for what he described as insufficient defence spending among NATO allies.

The Spanish leader’s approach has drawn mixed reactions domestically, with supporters backing his economic engagement strategy while businesses and opposition figures warn that deteriorating relations with the United States could carry economic risks.

A government source said Sanchez’s meeting with Xi Jinping on Tuesday would focus on geopolitical issues, reflecting Madrid’s view of China as a stabilizing global actor. However, trade representatives cautioned that such positioning could exacerbate existing strains, particularly as U.S. tariffs on European Union imports continue to weigh on Spanish exports.

“The United States is the leading foreign investor in Spain,” said Ramon Gascon Alonso of Spain’s Exporters’ and Investors’ Club, pointing to the importance of bilateral trade in key sectors of the economy.

Opposition figures have also criticized Sanchez’s stance, warning that public disagreements with Washington could undermine NATO cohesion and jeopardize the U.S. military presence in Spain.

China’s ambassador to Spain, Yao Jing, said stable bilateral relations had contributed to increased Chinese investment, describing Spain as pragmatic in its approach to economic cooperation and market access.

Official data showed Chinese firms invested 643 million euros in Spain in 2025, up from 149 million a year earlier, bringing total investment between 2010 and 2025 to 9.7 billion euros, largely concentrated in extractive industries and the energy sector.

During the three-day visit, Sanchez is scheduled to attend a formal banquet hosted by Xi, meet Premier Li Qiang and senior legislator Zhao Leji, and engage with business and academic leaders, including a visit to Xiaomi and a speech at Tsinghua University.

Spain is seeking to narrow a trade deficit with China that has more than doubled over four years to nearly $50 billion in 2025, with efforts focused on boosting agricultural and manufacturing exports.

Officials are also aiming to finalize a regionalization agreement to protect poultry exports affected by bird flu, following a similar arrangement that supported the pork industry during a previous African swine fever outbreak.

The meeting, held at the Great Hall of the People, comes as Beijing increases military and political pressure on Taiwan, which it claims as its territory. Cheng is visiting China on what she described as a “peace mission” aimed at reducing tensions.

Xi reiterated Beijing’s long-standing “One China” position, stating that both sides of the Taiwan Strait belong to one nation and calling Taiwan independence the “chief culprit” undermining regional stability.

He urged collaboration between China’s Communist Party and Taiwan’s opposition Kuomintang to promote national reunification.Cheng said she hoped to foster mutually beneficial relations and expand exchanges, adding that dialogue could help prevent the Taiwan Strait from becoming a flashpoint for international conflict.

Taiwan’s government rejected Beijing’s stance, with top policymaker Chiu Chui-cheng saying only Taiwan’s people could determine the island’s future and calling on China to engage with its democratically elected leadership.

Beijing has refused to hold talks with President Lai Ching-te, labeling him a separatist. The current divide traces back to 1949, when rival governments split after China’s civil war, with each side maintaining separate political systems.

Cheng, chair of the Kuomintang (KMT), is scheduled to visit China from April 7 to 12 and may meet Xi Jinping, though Beijing has not confirmed such talks. Speaking before departure in Taipei, she said the trip aimed to reduce tensions and prevent conflict, calling it a “historic journey for peace.

”The visit comes amid heightened military pressure from China, which views democratically governed Taiwan as its own territory and has not ruled out the use of force to assert control. Beijing has also refused formal engagement with Taiwan’s President Lai Ching-te, labeling him a separatist.

Taiwanese officials said Chinese naval activity around the island remains elevated. Kuan Bi-ling reported multiple warships positioned off Taiwan’s coasts, including deployments to the east, north, northwest and southwest, underscoring what authorities described as sustained military pressure.

Separately, Chiu Chui-cheng urged Beijing to engage with Taiwan’s elected government and called on Cheng to press Chinese authorities to halt military activities, including air and naval operations near the island.

The trip takes place ahead of a planned summit between U.S. President Donald Trump and Xi in Beijing, where Taiwan is expected to feature among key issues alongside trade.Cheng’s itinerary includes stops in Shanghai and Nanjing, where she is expected to visit the mausoleum of Sun Yat-sen, founder of the Republic of China.

The visit marks the first by a KMT leader to China in a decade, reflecting renewed political outreach despite ongoing cross-strait tensions.

Seoul’s National Intelligence Service (NIS) told a closed-door parliamentary briefing that Pyongyang has not supplied weapons or material support to Iran since the conflict began on February 28.

The agency also noted that North Korea refrained from issuing condolences following the death of Iran’s Supreme Leader Ayatollah Ali Khamenei in air strikes, according to lawmaker Park Sun-won, who attended the session.

The NIS further said Pyongyang did not send a congratulatory message after Mojtaba Khamenei was named Iran’s new supreme leader, underscoring what it described as a cautious diplomatic posture amid the escalating crisis.

While China and Russia have issued multiple statements on the conflict, North Korea’s Foreign Ministry has released only two relatively muted responses, the intelligence agency said.

This restrained approach aligns with a broader pattern in which Pyongyang has avoided direct criticism of US President Donald Trump in recent months.The NIS assessed that North Korea’s calibrated messaging is aimed at maintaining diplomatic flexibility ahead of a potential summit between Chinese President Xi Jinping and Trump expected in May.

Lawmakers were told the strategy reflects Pyongyang’s effort to position itself for a possible shift in geopolitical dynamics once the Middle East conflict stabilizes.Economic considerations are also shaping North Korea’s posture, the NIS said.

The country is facing disruptions in securing industrial supplies, alongside rising prices and currency pressures linked to the broader regional instability. The agency added that Pyongyang is seeking to secure oil supplies from Russia to mitigate the impact.

At the Ninth Workers’ Party Congress in late February, leader Kim Jong Un indicated a willingness to engage with Washington, stating there was no reason the two countries could not improve relations if the United States acknowledged North Korea as a nuclear state and abandoned what Pyongyang considers hostile policies.

According to the NIS, Kim’s remarks were delivered in a personal tone intended to signal openness to dialogue while maintaining strategic leverage, suggesting a calculated effort to keep diplomatic channels viable amid shifting international conditions.

Wang Yi has led a flurry of outreach, holding discussions with counterparts across the Middle East and Europe while advocating a ceasefire and reopening of the strategically vital Strait of Hormuz. Beijing has also opposed a United Nations proposal backed by Bahrain that could authorize force to ensure maritime transit through the strait.

Analysts say the diplomatic push reflects China’s broader ambition to project itself as a responsible global power. Sun Yun of the Stimson Center said the conflict presents an opportunity for Beijing to demonstrate leadership, while former U.S. diplomat Danny Russel described the initiative as largely symbolic, comparing it to China’s earlier proposals on Ukraine that lacked implementation.

“It’s messaging, not mediation,” Russel said, arguing that China is seeking to contrast its approach with Washington’s.The administration of Donald Trump has shown limited enthusiasm for third-party mediation, with U.S. officials indicating reluctance to elevate China’s diplomatic role in the Middle East.

One official described Washington’s stance on the China-Pakistan proposal as “agnostic,” though the position could shift ahead of a planned summit between Trump and Xi Jinping expected in mid-May.Beijing has an economic incentive to contain the conflict, particularly disruptions linked to the Strait of Hormuz, a key artery for global energy flows.

While China has reduced its reliance on Iranian oil to about 13 percent of imports and maintains strategic reserves, analysts warn that prolonged instability could raise input costs and weaken global demand for Chinese exports.

China has also worked to secure safe passage for its vessels through the strait, even as tensions have driven up energy prices worldwide. At the same time, Beijing’s position aligns with Moscow’s opposition to measures that could expand the conflict, with both countries wary of endorsing force through the United Nations Security Council.

Diplomatic activity has intensified in recent days, with Wang engaging officials from countries including Iran, Saudi Arabia, Israel, France and the United Arab Emirates. He has also sought backing from European Union foreign policy chief Kaja Kallas and regional leaders for China’s ceasefire proposal.

China’s embassy in Washington said Beijing has been working “tirelessly for peace,” while analysts note that its approach emphasizes calls for de-escalation, respect for international law and a greater role for the United Nations.

However, U.S. officials say the proposal lacks operational detail, describing it as a broad appeal rather than a concrete roadmap for ending the conflict. The muted response from Washington underscores broader strategic competition between the two powers, limiting the prospects for coordinated diplomacy.

Meanwhile, efforts at the United Nations continue, with Bahrain revising its proposal to authorize defensive measures to protect shipping through the Strait of Hormuz, with a vote expected in the coming days.

Cheng, chair of the opposition Kuomintang (KMT), is expected to travel from April 7 to 12, visiting cities including Beijing, Shanghai and Jiangsu, according to party officials.

Outreach contrasts with ruling party stanceThe visit highlights a divergence between the KMT and Taiwan’s ruling Democratic Progressive Party, led by President Lai Ching-te, whom Beijing has refused to engage and labels a “separatist.”

China maintains that Taiwan is part of its territory and has increased political and military pressure on the island, while continuing to engage with opposition figures seen as more open to dialogue.

Cheng has said improving ties with Beijing does not equate to weakening relations with Washington, stressing the need for stability across the Taiwan Strait.

Timing ahead of Trump visitThe trip comes weeks before Trump is expected to travel to China for talks with Xi, placing Taiwan at the center of broader U.S.-China strategic discussions.

Separately, a bipartisan group of U.S. lawmakers is also planning visits to Taiwan and the region ahead of the summit, reflecting Washington’s continued engagement despite tensions with Beijing.

Financial markets are showing signs of diminishing responsiveness to statements by Donald Trump on the conflict involving Iran, as investors weigh inconsistent signals against ongoing geopolitical and economic risks.

Earlier this week, a social media post by Trump describing talks with Iran as “very good and productive” triggered a broad market reaction. Oil prices dropped more than 10%, global equities rallied, the dollar weakened, bond yields fell and gold prices rose, illustrating the sensitivity of asset classes to perceived diplomatic progress.

However, subsequent remarks by Trump extending a deadline for potential U.S. military action against Iranian energy infrastructure to April 6 produced a more muted response. U.S. equities pared losses only slightly, while crude prices stabilised rather than reversing course.

By early Friday, Brent crude had resumed its upward trajectory, trading above $109 per barrel, and S&P futures were again in negative territory.

Market participants appear increasingly cautious amid conflicting narratives from Washington and Tehran. While Trump said Iran had requested a seven-day reprieve, reports citing mediators indicated no such request had been made. Iranian officials have also rejected a 15-point U.S. proposal aimed at ending the conflict.

At the same time, reports suggest the United States may deploy an additional 10,000 troops to the Gulf region, reinforcing concerns that the conflict could escalate even as diplomatic channels remain open.

This divergence has complicated pricing across asset classes, with investors struggling to assess the likelihood of either a near-term resolution or further escalation.

Since the conflict began on February 28, traditional safe-haven assets have not behaved uniformly. U.S. Treasury securities have weakened, reflecting inflation concerns and expectations of a more hawkish stance from the Federal Reserve, alongside signs of strain in government debt markets following a series of weak auctions.

Gold prices have also softened during the period, contrary to typical crisis-driven demand, prompting some investors to reassess assumptions about its role as a hedge during geopolitical shocks.Concerns are also building in private credit markets.

Firms including Ares Management and Apollo Global Management have restricted investor withdrawals from certain funds after an increase in redemption requests, signalling stress in less liquid segments of the financial system.

Despite volatility, some analysts are turning more constructive on U.S. equities, citing expectations of strong earnings growth. Several major banks have raised forecasts for the S&P 500, suggesting resilience in corporate performance even amid geopolitical uncertainty and concerns around artificial intelligence investment cycles.

In energy markets, the oil futures curve continues to indicate expectations of a relatively swift resolution to supply disruptions, despite estimates that as much as 20 million barrels per day could be affected by the conflict and related infrastructure damage.

The Strait of Hormuz, a critical global energy corridor, remains central to market dynamics. Investors appear to be pricing in a reopening of the route, although current conditions reflect ongoing disruption.U.S. gasoline prices are approaching $4 per gallon, indicating that domestic consumers are beginning to feel the impact of higher crude prices despite the country’s substantial energy production capacity.

Public sentiment has also weakened. A Reuters/Ipsos poll showed only 29% approval for Trump’s handling of the U.S. economy, marking the lowest level recorded for him on this measure.

The effects of the conflict are extending beyond crude markets. Natural gas markets may face more severe disruptions due to limited storage capacity, rigid supply chains and infrastructure constraints, particularly in Europe, which remains heavily dependent on gas imports.

This could force policymakers in Europe to reconsider elements of their climate transition strategies in the near term, as energy security concerns take precedence.

In contrast, the crisis may accelerate the adoption of alternative energy technologies in Asia, especially electric vehicles, where supply chains remain more flexible and policy support is strong.Geopolitical scheduling also reflects expectations around the conflict’s trajectory.

Trump has postponed a planned visit to China to meet Xi Jinping until mid-May, signalling an expectation that the situation may stabilise within weeks rather than days.

Markets remain highly sensitive to developments, but recent price action suggests that investors are placing greater emphasis on concrete developments rather than political messaging alone.

Speaking at the Taiwan Foreign Correspondents’ Club in Taipei, Cheng said her party’s long-standing ties with the United States would remain intact even as it seeks closer engagement with mainland China. “There is no contradiction between the two, and there is no need to choose one over the other,” she said, rejecting criticism that outreach to Beijing would weaken relations with Washington.

Cheng, a former lawmaker who became KMT chair in October, has signalled a stronger push for engagement with Beijing compared to her predecessor Eric Chu, who did not visit China during his tenure starting in 2021. She has expressed interest in meeting Chinese President Xi Jinping, though she did not provide details on any potential timeline.

China, which views Taiwan as its own territory, has refused to engage with the government of President Lai Ching-te, whom it labels a separatist. However, Beijing has maintained contacts with senior KMT figures, underscoring the party’s role as an alternative channel for cross-strait communication.

The ruling Democratic Progressive Party (DPP) has criticised the KMT’s approach, accusing it of undermining Taiwan’s democracy and aligning too closely with Beijing. Cheng rejected those claims, saying her party supports arms purchases from the United States, though she emphasised that such spending must be carefully evaluated.

The KMT, alongside the smaller Taiwan People’s Party, holds a parliamentary majority, allowing it to influence defence budgets and legislative priorities, including measures related to security cooperation with Washington.

Taiwan’s political parties are preparing for mayoral and county chief elections in November, seen as a key indicator of public sentiment ahead of the 2028 presidential race. Analysts say cross-strait policy and defence spending are likely to remain central campaign issues.

China has intensified military pressure on Taiwan and has not ruled out the use of force to bring the island under its control, keeping geopolitical risks elevated in the region.