Is Vietnam The Next China?
Vietnam can become the next China says online magazine Fobes.com. During the last few years its economy grew radically. In fact Vietnam has become the second fast growing economy in the world after China,- says Donald H. Straszheim, Donald H. Straszheim is vice chairman of Roth Capital Partners in Los Angeles, . He emphasizes that the Vietnamese government has been working hard to improve the economy and to make Vietnamese people to live better off and gave some steps, or shall we call them stretergies to improve its overall economy.
First of all the economy growth started from so-called "doi moi" economic revival programm-in 1986 where the Country was opened for foreign investments .
In 1995 Vietnam joined the Association of Southeast Asian Nations.
In 2000 Vietnam signed the US-Vietnam trade pact and became a member of World Trade Organization .
As we can see Vietnam launched an opened up economic policy which I believe was really significant in the country development.
Although the country's economy is rapidly growing, we can't ommit the fact that they do have some economical problems as well which Mr. Straszheim. Vietnam is struggling with inflation problems which are likely to grow more that 16% in the nearest future. The government is trying to control and prevent inflation by limiting the key exports, reducing tariff on some imports, cutting public-sector construction and more.
In addition to inflation Vietnam has a trade and budget deficit ranged or 6~7% . Also the state currency Ban is getting depreciated agaist the American dollar.
In the end Mr. Straszheim concludes that due to new Economical problems , no matter what they have been caused by, the government would have to start raising it "with a fresh start."
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