Today I’ll focus on some economic changes going on here in Việt Nam, many of which a visitor can observe personally at least in part.
When the Việt Nam War ended in 1975, this was a very, very poor country. A site called countryeconomy.com has some statistics for the period from then to 1986. I would not take these numbers as anything exact, but rather as a rough indication of the extent to which Việt Nam was completely isolated from the world economy at that time, under the strict Communist régime imposed at the end of the war. Country Economy has Việt Nam’s per capita GDP as a big $80 in 1975, increasing to $556 in 1986 (although that includes what I would consider highly dubious increases of 283% in the single year of 1980, and another 121% single-year increase in 1986). Even if you believe those increases, $556 annual per capital GDP represents rather extreme poverty for a country. (The current U.S. figure is about $60,000.) . . .Read More