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2021 | OriginalPaper | Chapter

6. Vietnamese Political Economy in an East Asian and International Perspective

Authors : John Walsh, Burkhard Schrage, Trung Quang Nguyen

Published in: The Political Economy of Vietnam’s Industrial Transformation

Publisher: Springer Singapore

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Abstract

This chapter reviews facets of the recent socio-economic history of Vietnam in an international context. The country has shown a remarkable transition from a low- to middle-income country. Vietnam has set ambitious economic and social development objectives, to continue these achievements. Trade has been a key ingredient in attaining government targets in past. the future trajectory remains uncertain. Important challenges to continue this growth arise from persistent low labour productivity, an aging society and endemic corruption.

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While Southeast Asia is mostly used to denominate the geographic area, ASEAN refers to intergovernmental agreements of the Southeast Asian states (currently excluding East Timor).

As of 1 July 2018, low-income economies are defined by the World Bank as those with a GNI per capita of $995 or less in 2017; lower middle-income economies are those with a GNI per capita between $996 and $3,895.

The year 1986 is set as the start of reforms for Vietnam (“Đổi Mới”), 1978 for China (“Open Door Policy”), and 1972 for both South Korea (continuation of the “Outward Looking Economic Strategy”) and Thailand (reforms by the Thanarat regime of infrastructure development and privatization of SOEs).

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Title: Vietnamese Political Economy in an East Asian and International Perspective
Authors: John Walsh
Burkhard Schrage
Trung Quang Nguyen
Publisher: Springer Singapore
Book: The Political Economy of Vietnam’s Industrial Transformation
Print ISBN: 978-981-16-0150-7

Electronic ISBN: 978-981-16-0151-4

Copyright Year: 2021
DOI: https://doi.org/10.1007/978-981-16-0151-4_6