Asian Country Economy Vietnam's Economy Essay

Length: 7 pages Sources: 10 Subject: Economics Type: Essay Paper: #90517500 Related Topics: Asian, Asian American, Another Country, Ho Chi Minh
Excerpt from Essay :

Also, certain light electronic products such as fans and lighting fixtures typically set off for export were diverted to the domestic market, which underwent a construction boom because of the economic stimulus package.

Construction Sector

One engine for growth during the crisis was Vietnam's construction sector. Vietnam's government enacted a program of stimulus spending which emphasized public works and building projects. (the Economist, 2009, Sep 24). Vietnam's stimulus spending went a long way with regard to construction because of the cheap labor available in Vietnam. The stimulus program was successful because it provided valuable infrastructure while alleviating unemployment.

Conclusion

Vietnam's greatest liability in the eyes of investors, its lack of full integration with the global economy, served as its greatest protection against the effects of the global financial crisis. (the Economist, 2008, Jun. 19). With an aggressive economic stimulus program and a healthy consumer base, Vietnam was able to keep its production lines moving and maintain positive GDP growth. However, as the country transitions into a full-fledged market economy, Vietnam will be increasingly vulnerable the effects to global economic forces such as the recent global financial crisis. (Konishi, 2008, 8).

Bibliography

Economist Intelligence Unit (2010). Vietnam Country Forecast. The Economist. Retrieved from http://www.viet-studies.info/kinhte/EIU-VN-Country-Forecast-2010-02.pdf

Nguyen, T.C. (2009). -- Opportunities and Challenges for Vietnam in the Global Financial Crisis. Retrieved from http://www.eastwestcenter.org/fileadmin/resources/seminars/Urbanization_Seminar/HCMC_Workshop/Papers_and_Presentations/FinancialCrisisPaper_NguyenThiCanh.pdf

Konishi, a. (2008).The Global Financial Crisis: Viet Nam's prospects in 2009 and Beyond [PowerPoint Slides] Retrieved...

...

V not yet for victory an impressive recovery may create problems of its own. The Economist. Retrieved from http://www.economist.com/node/14506580

The Economist (2009, Mar. 5). Vietnam's economy in need of some snake-blood. The Economist. Retrieved from http://www.economist.com/node/13240694.

The Economist (2008, Jun. 19). Flu symptoms: Is dangerous overheating contagious? The Economist. Retrieved from http://www.economist.com/node/11599015

The Asia File (2009, Feb. 16). Vietnam feels the pain of global economic crisis. The Telegraph. Retrieved from http://blogs.telegraph.co.uk/finance/theasiafile/8594061/Vietnam_feels_the_pain_of_global_economic_crisis/

Vietnam Business News (2010, April 12). Vietnam: Global Economic Prospects & Challenges in Post Crisis Period. Vietnam Business News. Retrieved from http://www.allbusiness.com/economy-economic-indicators/economic-conditions-growth/14270263-1.html

Vietnam Business News (2010, Apr. 2). Foreign banks must stop providing information regarding global financial crisis. Vietnam Business News. Retrieved from http://vietnambusiness.asia/foreign-banks-must-stop-providing-information-regarding-global-financial-crisis/

VietnamNet. (2010, Jan. 14). U.S. dollar quietly decreasing in value in Vietnam. VietnamNet. Retrieved from http://www.lookatvietnam.com/2010/01/us-dollar-quietly-decreasing-in-value-in-vietnam.html

Bloomberg (2009, Nov. 11). Vietnam to Allow Gold Imports to Prevent Speculation. Bloomberg. Retrieved from http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aPA2HISVOVqU

Vietnam Business News (2010, Nov 7th). Vietnam's balance of payment shows resilience. Vietnam Business News. Retrieved from http://vietnambusiness.asia/vietnam%E2%80%99s-balance-of-payment-shows-resilience/

Sources Used in Documents:

Bibliography

Economist Intelligence Unit (2010). Vietnam Country Forecast. The Economist. Retrieved from http://www.viet-studies.info/kinhte/EIU-VN-Country-Forecast-2010-02.pdf

Nguyen, T.C. (2009). -- Opportunities and Challenges for Vietnam in the Global Financial Crisis. Retrieved from http://www.eastwestcenter.org/fileadmin/resources/seminars/Urbanization_Seminar/HCMC_Workshop/Papers_and_Presentations/FinancialCrisisPaper_NguyenThiCanh.pdf

Konishi, a. (2008).The Global Financial Crisis: Viet Nam's prospects in 2009 and Beyond [PowerPoint Slides] Retrieved from http://www.adb.org/Documents/Events/2008/AmCham-Economic-Prospect/AmCham.pdf

The Economist (2009, Sep 24). V not yet for victory an impressive recovery may create problems of its own. The Economist. Retrieved from http://www.economist.com/node/14506580


Cite this Document:

"Asian Country Economy Vietnam's Economy" (2010, November 08) Retrieved April 11, 2021, from
https://www.paperdue.com/essay/asian-country-economy-vietnam-economy-11911

"Asian Country Economy Vietnam's Economy" 08 November 2010. Web.11 April. 2021. <
https://www.paperdue.com/essay/asian-country-economy-vietnam-economy-11911>

"Asian Country Economy Vietnam's Economy", 08 November 2010, Accessed.11 April. 2021,
https://www.paperdue.com/essay/asian-country-economy-vietnam-economy-11911

Related Documents
Asian Resources and Economic Power
Words: 4982 Length: 16 Pages Topic: History - Asian Paper #: 9936419

Asian Resources and Economic Power Asia has always been a centre of attention in world's politics. A single decision made by one of the Asian countries has a tendency of altering the world's political and economic scenery. A change in Afghanistan changed the perception about world's security and enunciated an on-going war of peace. Similarly, China's growth has altered economic policies of many countries in the world. Hence, whatever takes place

Vietnam Policy on Ethnic Affairs
Words: 2144 Length: 7 Pages Topic: History - Asian Paper #: 81476773

Minorities tended to live in more impoverished and less urban areas. The Hoa and ethnic Chinese were the exception to the rule however, typically living in more urban areas, and isolated from mainstream Vietnamese culture for some time. However, despite these seemingly unsolvable problems, there is ample evidence suggesting the government has continuously worked to help end discrimination and support a unified front. In recent years policies have been developed

Asian Financial Crisis of 1997 the Economies
Words: 3782 Length: 12 Pages Topic: Economics Paper #: 2889666

Asian Financial Crisis of 1997 The economies of the so-called "Asian Tigers" were looked at with envy by the rest of the world in the early 1990s. These Southeast Asian countries -- South Korea, Taiwan, Singapore, Hong Kong, Malaysia, and Thailand had shown impressive (in most cases double-digit) growth rates for the preceding decade and more; thus becoming "darlings" of liberal capitalism and globalization in the post-cold war era. Other developing

Vietnam and Foreign Policy International
Words: 1283 Length: 5 Pages Topic: Government Paper #: 69728085

In addition the United States has provided many new products to be used for agricultural production so that the war torn fields can again become fruitful and prosperous (Adamson, 2002). The infrastructure assistance provides the roadways so that the agricultural products can be transported into needed areas and crops can be transported out for sale and for export. While helping the nation rebuild the roads and highways and bridges that were

Vietnam and U.S. Economic Relations
Words: 1589 Length: 6 Pages Topic: Economics Paper #: 26015234

Vietnam and U.S. Economic Relations Vietnam's economy stagnated for 10 years after the war ended in 1975. In 1986, the Sixth Party Congress approved a broad economic reform package called 'Doi Moi' or renovation that was geared to dramatically alter and improve Vietnam's business climate, both at home and abroad. Vietnam became one of the fastest-growing economies in the world, averaging around 8% annual GDP growth from 1990 to 1997." (Bureau of

Vietnam Moral and Ethical Issues Clearly Technological
Words: 911 Length: 3 Pages Topic: History - Asian Paper #: 61708972

Vietnam Moral and Ethical Issues Clearly technological development, especially in terms of IT, has significantly impacted social and family life within Vietnam. In terms of family life, the structure and view of the family as a unit has changed in several ways. In terms of society, the globalization as a result of IT development has significantly impacted on Vietnamese philosophy and ethics. Globalization and Social Pressure According to Duiker (119) the dominant philosophy of