When Richard Samuels raised the prospect of a ‘Goldilocks Consensus’ in regardsto Japan’s relationship vis à vis China, he was positing the idea that Japan shouldhedge. Samuels identified a need for Japan to grow stronger whilst avoiding growingsufficiently powerful as to pose a threat to China, while simultaneously positioningitself not too close and not too far from the United States, its security guarantor. Inshort, Japan should aim to get the relationship ‘just right’, hence the faerie—taleanalogy. Moving further south within Asia, an examination of the evolvingrelationship between Vietnam and China shows this is precisely the strategy Vietnamis adopting vis à vis China, albeit within an entirely different security dynamic. Inessence, Vietnam's hedging strategy, comprising what Goh has defined as a form of“triangular politics” between Vietnam, China and the United States, is a strategypredicated on working for the best whilst preparing for the worst. It is a strategythat seeks to combine a mixture of balancing, containment, engagement andenmeshment as a form of insurance against an uncertain strategic future.This paper will argue that, due to Thayer’s “tyranny of geography’ – whereVietnam's shared northern continental border and their long snaking eastern littoralcoastline bordering the South China Sea have inevitably thrown Vietnam's andChina's interests together – Vietnam is more threatened by China's rise than anyother regional state. As Goh states, “the tyranny of geography renders the twocountries strategic rivals.” Consequently, as China continues to rise, this paperargues that Vietnam will increasingly seek to hedge with the United States,increasing military and security ties with the western hegemon as part of a nuancedstrategy, which also includes engagement with China (particularly through growingtrade and economic ties); which seeks to enmesh China in multilateral institutionswithin the regional security architecture; and which seeks to strengthen its ownsecurity position through a program of military modernisation and selective militaryexpansion. This nuanced strategy we shall call hedging.