|
Vietnam Economy from the very beginning had been dependent on agriculture. Following the partition of the country into two separate states namely North and South Vietnam, led to the two countries following different economic paths. While South Vietnam opted for a free market with minimal governmental intervention, North Vietnam was a centralized planned economy. Following the unification of the two countries and the formation of the Socialist Republic of Vietnam, the economy of Vietnam had to go through its share of upheavals. There were numerous snags in the entire economic set up and it had a tough time dealing with production issues, an unstable demand and supply ratio, unequal distribution,amounting debts and rising inflation rates. The 1980s saw the country at a crucial juncture where it had to make its stand clear and go for either a free market or opt for a complete governmental control over the country's economy. The adoption and implementation of the economic policies, the change of leadership in the Communist party and the radical steps undertaken to work out the long standing economic problems steered the country's economy through this rough patch and it went on to record an average growth rate of 7.4% in the last decade
For more information log into
|
