Vietnam Debt Crisis
The article, "Vietnam's Ticking Debt Bomb," written by Elisabeth Rosen for The Diplomat, discusses the debt problem that Vietnam faces. The debt problem that Vietnam faces lead to declination of Vietnam growth as the debt continues holding their economy. In the article, the writer stated that 4.84 percent debt ratio that was estimated at the end of June continues to increase starting from the beginning of 2014. This ratio proves that Vietnam is economically unstable due to the debt issue. There were many reasons why Vietnam faces such a huge debt problem and how they recover.
First, the reason why Vietnam faces the debt problem is because the company’s inexperience in managing numerous amount of money. In the first place, the beginning of the debt problem started during late 2000 as the real
…show more content…
After Vietnam’s huge loss, the country tried to build up for their loss with some solutions that they thought would fit the situation. At first, they tried to deal with the debt by encouraging the reformation of the SOE so that they could slowly use the revenue to pay the debt that they faced. During that period, the law restricted the SOEs from investing in risky areas. Plus, they were required to operate under market principles. The government also asked the banks and the SOEs to loosen foreign ownership and increase transparency. The risky areas like insurance, security, and real estate were prohibited to non-banking SOEs so that they were not making the same mistake like before. In order to avoid any misuse of money by the SOEs, the state audit published “flagrant abuse of regulations”. As this regulations are imposed by the government, the SOEs now need to publish financial results online yearly. We can see that Vietnam made a great step for recovering from the debt problems by enforcing laws that will protect the SOEs from make the same mistake
Mark Atwood Lawrence’s The Vietnam War: A Concise International History shows readers an international affair involving many nations and how the conflict progressed throughout its rather large existence. Lawrence starts his book in a time before America was involved in the war. It starts out with the French trying to colonize the nation of Vietnam. Soon the United States gets involved and struggles to get its point across in the jungles of Indo-China. Much of the book focuses on the American participation in helping South Vietnam vie for freedom to combine the country as a whole not under Communist rule. Without seeing many results, the war drug on for quite some time with neither side giving up. This resulted in problems in Vietnam and the U.S.
The Vietnam War was known for the thousands of lived that were lost and the billions of dollars in debt that destroyed the US economy. To this day, it is debatable as to whether or not US involvement in the war was worth the devastation it caused to the country.
Robert S. McNamara's book, In Retrospect, tells the story of one man's journey throughout the trials and tribulations of what seems to be the United States utmost fatality; the Vietnam War. McNamara's personal encounters gives an inside perspective never before heard of, and exposes the truth behind the administration.
Vietnam War (1954-1975) is considered as one of those big wars of the modern world that has been acknowledged and studied by countries in the world. Especially, in regard to the United States, starting and ending war in Vietnam was an unforgettable experience that has left a priceless lesson in its foreign policy, and of course a lot of loss, physically, mentally, and property. “The Legacy of Vietnam” article of George Herring basically summarizes how the Vietnam War led to an end in failure of America and what consequences it left behind.
Only in the Vietnam War was the United States’ participation criticized. This is such a gigantic change from prior wars that it bears study as to why it happened, and better yet, should have it happened. This paper will discuss the United States’ involvement in the Vietnam War, by asking the simple question, Should have the United States’ gotten involved in the first place? This paper will prove that, in fact, America should not have gotten involved in the Vietnam War. The Vietnam War took place between 1947- 1975.
As a result, the Geneva agreement was set up to try and keep order in
Throughout Vietnam’s history geography has play a role during it and because of it’s location, climate, soil it was an ideal place for farming which would soon attract invaders. The Chinese, French ,and Japanese all wanted something from Vietnam which included agriculture abundance, colonial possessions, and natural resources. They all controlled Vietnam at this time. Japan surrendered when vietminh declared it’s independence and the United States did not support this independence. The French and Vietminh went into war where the french had lost and Vietnam was divided ( French took control of
The Vietnam War was the longest and most expensive war in American History. The toll we paid wasn't just financial, it cost the people involved greatly, physically and mentally. This war caused great distress and sadness, as well as national confusion. Everyone had that one burning question being why? Why were we even there? The other question being why did America withdrawal from Vietnam. The purpose of this paper is to answer these two burning questions, and perhaps add some clarity to the confusion American was experiencing.
The South Vietnam was struggling with the communism in the North Vietnam by chance, and we had a promise to protect their freedom. So our government got a chance to use the South Vietnam as a hindrance to prevent the happening of Domino Theory. We started sending troops, money and military advisors to the South Vietnamese government. And we supported Ngo Dinh Diem, who became the Vietnam president through a false poll. Our government knew Diem wasn’t a good leader, but we still supported him because he was an intense anti-communist.
The greatest loss caused by the Vietnam War was probably the togetherness of the American society. American idealism led to an opinion that the Vietnamese society can be relatively easily transformed to democracy. When this optimistic thesis fell down, it unavoidably led to disillusion. The prevailing phenomenon was also the misunderstanding of the military problem.
Public debt, which comes from securities and bonds issued by the United States Treasury, is responsible for over 60 percent of the debt (“Debt Position and Activity Report” 1). These debts are being held by the public inside and outside the US. Over 25 percent of the debts are held by foreign governments, in which China and Japan accounts for almost half of the sum (“Treasury Bulletin: September 2009” 60).
In addition, Vietnam had and still has a Communist government and a socialist economic model. However, the Vietnamese are trying to move more towards a free market system. Meaning that the Vietnamese want a market economy where the forces of supply and demand are not controlled by the government, nor any other authority. Moreover, every members of the government are elected by Vietnam’s National Assembly. Additionally, Vietnam is one of the fastest growing financial country in the world with, according to bbc.com, a nominal GDP that reached about $170 billions. Also, Vietnam became one of the highest leading agri...
The Vietnam War was the first major war American’s had suffered defeat. The Vietnam war was a war of confusion, competition and biasness. The outcome of the war was far greater than an upset American nation, but a severe breakdown of the Vietnamese culture, economy, environment and government. It also had a tremendous impact on American society even up to present day. It was unclear from the beginning of the war if the American’s should even be involved. It was a war between Northern and Southern Vietnam but the U.S saw it as an indirect way to challenge the USSR’s sphere of influence in Southern Asia and to prevent the domino effect and the further spread of communism. The Vietnam War completely changed the way the United States approached military action and helped establish the role of the United States within the new world order.
Vietnam was a struggle which, in all honesty, the United States should never have been involved in. North Vietnam was battling for ownership of South Vietnam, so that they would be a unified communist nation. To prevent the domino effect and the further spread of communism, the U.S. held on to the Truman Doctrine and stood behind the South Vietnamese leader, Diem.
Maintenance of a fast and sustainable economic growth through industrialization is one key challenges that Vietnam has been focusing on over the past decades. This push has led to great achievements for Vietnam in the economical standpoint. After eleven years of negotiations towards meeting the necessary conditions, on January 11th, 2007, Vietnam beca...