I like to point out that moving of certain industries into Vietnam is not something China is apprehensive about. In fact, it is good from many perspectives, including environment, wages, and high-end production in China.
I would be concerned if low-end production did not move to other places out of Mainland China. Japan experienced it; Taiwan province experienced it; now it is Mainland to experience it.
We need to keep in mind that production leaves China as FDI into China is first or second in the world.
As a final point, I would not like to see Vietnam to remain poor. As long as Vietnam is the favorite destination in place of India, I am fine.