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Vietnam Economy

g cooperatives and state-owned enterprises), and the government took a reactive attitude to ease the pressures of the shortage economy with the objective to achieve socialist transformation. The second period known as soft reform is began from the economic "renovation" (otherwise known as "doi moi") in December 1986 till 1990s. The ideology behind the soft reform is the recognition of the fundamental flaw of Vietnam's socio-economic system under the neo-Stalin model. The government initiated a stronger form of reform to move towards a market economy especially by opening up to foreign direct investments (FDI). Figure 1: Vietnam's reform process Vietnam's overall reform process Hard Reform Socialism: 1976-1986 Soft Reform Socialism: 1986 onwards Pre-Stage (up to 1979) Fence-breaking (up to 1981) Formal Transition (up 1989) Post-Stage (1990 onwards) Second Five-Year Plan (1976-1980) Third Five-Year Plan (1981-1985) Economic "Renovation" (1986-1990) Subsequent Five-Year Plans In addition, Vietnam's gradualist approach to transition can be further broken into a four-stage process within the two periods (Figure 1 above). The first stage is the Pre-stage, which is the period before the transition process takes place. An important feature was the distortions to economic structures and prices due to central-planning. It lasted till 1979 when the Vietnamese economy was on the verge of collapse . The second stage is that of Fence-breaking, which is a period when, the process of transition takes place with an increase in unplanned economic activities. New and direct linkages between customers and suppliers were formed. It lasted till early 1981, with the passage of two decrees that institutionalized the transition . (namely: 25-CP and CT-100). The third stage is the Formal transition itself. This stage involves the recognition of the transition by the government and to assist in the development and expansion of market-oriented activities.


Essays Related to Vietnam Economy

1. Economic Development and the Environment in Vietnam

Economic development is a broad measure of welfare in a country, its indicators include: health, education, GDP per capita and the preservation of the environment. Vietnam, an emerging economy in transition, has endured a series of economic reforms since the government's decision to implement Doi Moi – Renovation or Reconstruction - in 1986. The fundamental objective of Doi Moi is to ... presence of global businesses, and the subsequent creation of new export markets, has allowed for aggregate supply to expand, fuelling economic growth in the long term. As Vietnam has become more integrated ...

  • Word Count: 1293
  • Approx Pages: 5
  • Grade Level: Graduate

2. Chinese Economy (Late 1970's to Present)

... performance. It is definitely the strong institutional framework that should be held responsible for the success of gradual reforms in China and Vietnam, where strong authoritarian regimes were preserved and centrally planned economy institutions were not dismantled before new market institutions were created. The shock-therapy approach was not desired by China, because of its ... economic growth. Consequently, without a definite model in mind, China underwent a lengthy path of adjusting reform objectives from a planned economy with some market adjustment to a combination of planned and m...

  • Word Count: 2154
  • Approx Pages: 9
  • Grade Level: Undergraduate

3. Vietnam

... system of development in the South as well, eradicating the market oriented system. For the next ten years, the economy of Vietnam declined drastically. In 1986, the government implemented reforms and the economy was gradually transformed into a more open, market-oriented system. In 2003, Vietnam's per capita GDP reached US$420 per year and was removed from the list of Least Developed Countries (LDC ... ). As a transitional economy, Vietnam followed a similar path with China and attracted many foreign investors due to its low wages. Unfortunately, despite Vietnam did not become a success...

  • Word Count: 2031
  • Approx Pages: 8
  • Has Bibliography

4. Vietnam's Economic Growth From 1990-2004

Economic reform in 1986 has brought a great achievement for Vietnam economy. Their participation in the Association of Southeast Asian Nations, Asia-Pacific Economic Cooperation, and World Trade Organization has made the country became more integrated into the world economy. Vietnam's economic growth rate in the 1990's was one of the highest in the world. According to the World Bank report, its average ... 1990 to 2000 (World Development). Along these conditions, they did not only gain benefits but also difficulties. This paper will discuss the benefits and challenges during the growing perio...

  • Word Count: 1435
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: Undergraduate

5. The Effect Of The Tet Offensive On The Vietnam War

The United States was directly involved in the Vietnam War from 1964 through 1974. A major event in this war was the Tet Offensive, which profoundly affected American history by impacting our politics, economy, military, and society. The Tet Offensive affected politics by influencing the presidential elections of 1968. It affected the American economy, boosting personal prosperity with new jobs but greatly increasing ... aid to the French. (Dougan 26) Eventually (1954) the French were forced to pull out and Vietnam was split into North and South. From 1955 to 1961, U.S. engineers, doctors, mil...

  • Word Count: 1442
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: High School

6. Public Opinion following the Vietnam War

... When the strongest nation in the world can be tied down for four years in a war in Vietnam with no end in sight, when the richest nation in the world cannot manage its economy, when the nation with the greatest tradition of the rule of war is plagued by unprecedented racial ... to advance technologically and become the only technological super-power. When no major advances in U.S. technology occurred, many Americans were skeptical with the government. Vietnam was being fought in the name of containment, but it was the opposite. "The beneficiary of this effort was the Soviet Union, Ameri...

  • Word Count: 2945
  • Approx Pages: 12
  • Has Bibliography
  • Grade Level: High School

7. AP Hostory :: American Involvement in Vietnam

... its effectiveness in conflict all around the world. Possibly one of the worst wounds it has succumbed, the Vietnam conflict dug deep into America as a whole changing everything from the economy to the strategies presidents relied on for taking actions. A few years after Lyndon Baines Johnson took presidency in ... 1964, the conflict in Vietnam became know to most Americans. Politically this was when the United States evolvement became known, and the economy proved this by jumping forward with war productions. This has been a key factor in the ... handling. The retaliation strike was labe...

  • Word Count: 747
  • Approx Pages: 3
  • Grade Level: High School

8. Vietnam Socialist Republic and the German Democratic Republic

... skilled workers through mobilization measures, the labour reserve of the GDR was behind the demand of the East German national economy, and, most importantly, far behind the economy of the competing Federal Republic of Germany (FRG). Thus the governance of the GDR was forced to consider the ... the other partners from the Council for Mutual Economic Assistance (CMEA). The model of contract work between the GDR and the Socialist Republic of Vietnam (SRV) started first with an agreement in 19803. Especially in the Seventies, the GDR focused on cooperation with socialistic developing countr...

  • Word Count: 1950
  • Approx Pages: 8
  • Has Bibliography
  • Grade Level: Graduate

9. Study Guide On The Lessons Of The Vietnam War

... controlled by the Champa. Land-hungry peasants established settlements under the rule of the Vietnamese empire. By the eighteenth century, the state of Champa had completely disappeared. THE PEOPLES OF VIETNAM 8. A similar situation led to the Vietnamese seizure of the rich Mekong Delta from the declining state of Ankgor in the sixteenth and seventeenth centuries. Founded in the seventh century, ... so the area could be farmed and cultivated. They also built roads and railways they also modernized Vietnamese political and social institutions and introduced the country to the expanding ...

  • Word Count: 3422
  • Approx Pages: 14
  • Grade Level: High School

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