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Thread: Vietnam Economic News

  1. #21
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    “Vietnam’s trade as a percentage of gross domestic product (GDP) reached over 200 percent in 2017, the highest level for any country with over 50 million people in the World Bank’s data.”

    “Currently, Vietnam is a major exporter of electronics and apparel, with the United States and China as the main destinations for its goods.

    Unlike in some fast-growing economies, Vietnam’s new prosperity has been shared. The proportion of people in extreme poverty fell from above 70 percent in the early 1990s to around 10 percent in 2016, the WEF said.”

    http://www.thejakartapost.com/news/2...s-economy.html


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    Quote Originally Posted by DaiViet View Post
    Vietnam debuts its first car brand in the Paris Auto Show.

    Wow I hope Philippines will have their own in the future as well!

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    “The Việt Nam Northern Food Corporation (Vinafood 1) and Việt Nam Southern Food Corporation (Vinafood 2) won a bid last week to sell 14,000 tonnes and 15,000 tonnes of rice, respectively, to the Philippines.”

    “The Philippines is on a rice buying spree this year, after President Rodrigo Duterte lifted a 20-year restriction on rice imports as inflation accelerated. The NFA has been approved to import 2.4 million tonnes, just below the record 2.45 million tonnes bought in 2010 when rising global food prices stoked shortage fears.”

    https://vietnamnews.vn/economy/46832...IZTliMQPiAe.97
    R

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    Vietnamese economy is led by Vietnamese, not by ethnic Chinese like in other Southeast Asian countries.

    - 10 richest Vietnamese people on stock market as of 2017 are ethnic Vietnamese (pictures below). 9 out of 10 are Northern Vietnamese with only 1 from the south. Another thing of note, there is no Chinatown in Hanoi or anywhere in northern Vietnam. Chinatown currently only exists in Ho Chi Min City (Saigon)

    - Out of 100 richest people on stock market, only 11 people are Chinese Vietnamese.

    Source: (in Viet language)
    1. http://vietnamnet.vn/vn/kinh-doanh/m...sd-420843.html
    2. http://infonet.vn/nhung-dai-gia-goc-...ost233433.info










    Last edited by DaiViet; 10-24-2018 at 10:26 PM.

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    Quote Originally Posted by zhaoyun View Post
    If I was placing bets, I'd bet on Vietnam out of all of the SE Asian countries because of it's Confucian culture. It will become a major industrial powerhouse within one generation, mark my words.
    I'm optimistic about Vietnam as well but they won't be the 1st in SE Asia to reach that develop status.Vietnam is not an entrepreneurial culture and their overseas diaspora isn't doing as well as other Asian group despite having the same population.Before Korea,Taiwan,Singapore became a developed nation not only do their overseas diaspora doing extremely well but the origin were excelling in all the rankings.They don't just appear from 3rd world to 1st world just like that.Hence why I'm placing my bets with Malaysia.They are already higher than China in most ranking including HDI,economic competitiveness ranking,healthcare.What's holding Malaysia back is 1MDB corruption and their affirmative action policies for the Malay.If they abolish that policy,they can watch the country flourish into a Singapore on steroids.No doubt Vietnam would excel just not as soon as Malaysia and India.I said India because GDP growth of India have been consistently 2% higher than Vietnam YOY.

    BTW all the countries I mentioned just now(Korea,Japan,Singapore) never practised Confucian culture at an administration scale and in fact all of them intently modeled on western principle.In fact LKY founder of Singapore was an agnostic with western cultural values and beliefs.LKY himself have stated in an interview he laugh at some of his parents Taoism beleifs.Now as a nation they might incidentally practise it but the same can be said for other countries because huge part of confucianism is logical.

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    Quote Originally Posted by DaiViet View Post
    Vietnamese economy is led by Vietnamese, not by ethnic Chinese like in other Southeast Asian countries.

    - 10 richest Vietnamese people on stock market as of 2017 are ethnic Vietnamese (pictures below). 9 out of 10 are Northern Vietnamese with only 1 from the south. Another thing of note, there is no Chinatown in Hanoi or anywhere in northern Vietnam. Chinatown currently only exists in Ho Chi Min City (Saigon)

    - Out of 100 richest people on stock market, only 11 people are Chinese Vietnamese.

    Source: (in Viet language)
    1. http://vietnamnet.vn/vn/kinh-doanh/m...sd-420843.html
    2. http://infonet.vn/nhung-dai-gia-goc-...ost233433.info










    That's one thing Vietnam got going good.However Vietnam is relying a lot of China.Vietnam is known afterall as China backdoor as their their top revenue come from manufacturing of China goods.As I said Vietnam lack an entreprenurial culture overseas at least which is one of the reasons I'm not as optimistic.I mean if we want to see which country would succeed,you must see who has the strongest diaspora population in terms of wealth and influences.Korean,Japanese,Taiwanese,China,Indian had all strong diaspora in not just US but in UK,Australia,Canada,Europe,etc..

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    Quote Originally Posted by jungleland98 View Post
    That's one thing Vietnam got going good.However Vietnam is relying a lot of China.Vietnam is known afterall as China backdoor as their their top revenue come from manufacturing of China goods.As I said Vietnam lack an entreprenurial culture overseas at least which is one of the reasons I'm not as optimistic.I mean if we want to see which country would succeed,you must see who has the strongest diaspora population in terms of wealth and influences.Korean,Japanese,Taiwanese,China,Indian had all strong diaspora in not just US but in UK,Australia,Canada,Europe,etc..
    Korean diaspora are about the same as Vietnamese. Their median household income in the US are nearly identical.

    Your comments show you know nothing about Vietnam’s economy. Investments into Vietnam from China is well below that of Japan and Korea. Even lower than investments from Singapore. Vietnam’s top exports are electronics (non-Chinese) and textiles (non-Chinese).

    US and China serves as Vietnam’s main export market. Yes, Vietnam exports to China. Nothing wrong with that. Soon, the free trade agreement with EU will be signed, which will open up even larger market.
    Last edited by DaiViet; 10-26-2018 at 04:20 PM.

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    Quote Originally Posted by jungleland98 View Post
    I'm optimistic about Vietnam as well but they won't be the 1st in SE Asia to reach that develop status.Vietnam is not an entrepreneurial culture and their overseas diaspora isn't doing as well as other Asian group despite having the same population.Before Korea,Taiwan,Singapore became a developed nation not only do their overseas diaspora doing extremely well but the origin were excelling in all the rankings.They don't just appear from 3rd world to 1st world just like that.Hence why I'm placing my bets with Malaysia.They are already higher than China in most ranking including HDI,economic competitiveness ranking,healthcare.What's holding Malaysia back is 1MDB corruption and their affirmative action policies for the Malay.If they abolish that policy,they can watch the country flourish into a Singapore on steroids.No doubt Vietnam would excel just not as soon as Malaysia and India.I said India because GDP growth of India have been consistently 2% higher than Vietnam YOY.

    BTW all the countries I mentioned just now(Korea,Japan,Singapore) never practised Confucian culture at an administration scale and in fact all of them intently modeled on western principle.In fact LKY founder of Singapore was an agnostic with western cultural values and beliefs.LKY himself have stated in an interview he laugh at some of his parents Taoism beleifs.Now as a nation they might incidentally practise it but the same can be said for other countries because huge part of confucianism is logical.
    What’s holding Malaysia back are the ethnic Malays who are making up an increasing portion of the population every year. They lack entrepreneurial drive, have weak work ethic, and are overly dependent on affirmative action programs.

    Confucianism is embed in the culture, values, and social norms of sinospheric countries. It’s deeper than you think.

    That said, it will take time for Vietnam to even get to China’s current GDP per capita level. Perhaps 2 decades. After all it took China nearly 40 years to get to where it is today.
    Last edited by DaiViet; 10-26-2018 at 04:33 PM.

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    Quote Originally Posted by DaiViet View Post
    What’s holding Malaysia back are the ethnic Malays who are making up an increasing portion of the population every year. They lack entrepreneurial drive, have weak work ethic, and are overly dependent on affirmative action programs.

    Confucianism is embed in the culture, values, and social norms of sinospheric countries. It’s deeper than you think.

    That said, it will take time for Vietnam to even get to China’s current GDP per capita level. Perhaps 2 decades. After all it took China nearly 40 years to get to where it is today.
    Yup as I said Malay affirmative action policies are what leading to the country slow growth.Since Mahatir election into office,a lot of policies have been changing.Worth noting that during Mahatir tenure is when Malaysia economy boom and what led Malaysia to be richer than its SEA peers.Now that he's back and all the corrupt cronies are being sieved out,Malaysian are embracing for another boom

    Many of confucianism values are obvious and parallel with what Western philosophy said.My view on Taoism,Confucianism,Legalisme is similar to LKY.I don't find it astounding.

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    Quote Originally Posted by DaiViet View Post
    Korean diaspora are about the same as Vietnamese. Their median household income in the US are nearly identical.

    Your comments show you know nothing about Vietnam’s economy. Investments into Vietnam from China is well below that of Japan and Korea. Even lower than investments from Singapore. Vietnam’s top exports are electronics (non-Chinese) and textiles (non-Chinese).

    US and China serves as Vietnam’s main export market. Yes, Vietnam exports to China. Nothing wrong with that. Soon, the free trade agreement with EU will be signed, which will open up even larger market.
    Vietnam manufacture electronics from China based on reports not their own.That's nothing wrong with that of course since the 70's,Japan set up manufacturing plant in China for their electronics.But it shows Vietnam have a long way to go and I disgress the view shared by some that it would be the first to be developed status in Asia after Singapore.They're playing catch up as for now.

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