With domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. When Lawrence Wong decided to set up a toy factory in Vietnam last year, he had a clear plan: 600 square metres (6,458 sq ft) of floor space at the start of 2026, with...