MARKET ECONOMY
Prof. Dr.
Andreas
Stoffers
Vietnam’s Journey to Industrialization: The US Connection
After the end of the war between Vietnam and the US in 1975, the Southeast Asian nation was in a desperate situation. Even 15 years later in 1990, Vietnam was the poorest country in the world, with a GDP per capita of US$98, behind Somalia and Sierra Leone. Today, growth and optimism can be felt everywhere from Quang Ninh at the Chinese border to Ca Mau in the deep south. Vietnam’s ambitions are enormous. It wants to join the club of industrialized nations by 2045. That no longer seems unrealistic, writes Andreas Stoffers.