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Vietnam

Vietnam’s Economy in Transition
Background
Vietnam is known as the Socialist Republic of Vietnam. Vietnam is a country located in southeastern Asia that is still in transition in gaining economic growth from the Communist takeover in 1954 under the ruling of Ho Chi Minh. France conquered Vietnam and made it become part of the French Indochina in 1887. Although Vietnam declared independence after World War II, France continued to rule until the Communist forced power over them. Vietnam was divided into North and South. The North consisted of the Communist while the South consisted of the anti-Communist under the Geneva Accords of 1954. In order to bolster the government, the United States gave military and economic aid to South Vietnam to fight off the Communist North but had to withdraw in a cease-fire agreement in 1973. Consequently, the Communist North forced coerced the Anti-Communist South to reunite the country under the conservative leadership policies which limited economic gain providing little peace (“Vietnam” p.1). In an effort to increase liberalization Vietnamese authorities needed to modernize the economy by enacted structural reforms to create more competitive export driven industries in 1986. This was motivated by Vietnam’s “doi moi” policy which mean refers to a free-market where buyers and sellers determine prices as oppose to government regulations (Wikipedia.com p.11). In addition, the Protestant Montagnard population consisting of ethnic minority of the Central Highlands is unhappy with the loss of land to Vietnamese settlers. Hao Hao Buddhists are still protesting against religious persecution. (“Vietnam” p.2).
Geography and Climate
Vietnam has to initiate a lot of effort into restoring its own natural resources that were destroyed through the harsh environment of war. The country is left with the devastating impact of deteriorating land. The South’s climate is tropical as oppose to...

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