An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
This is actually misleading -- Vietnam has indeed developed immensely since the introduction of Doi Moi in the early 1990s, but it has done so at the expense of installing an ever-increasingly corrupt, dictatorial and plutocratic elite, aligned with the army and the security forces, which just arbitrarily seizes land and goods (without compensation) from ordinary citizens/peasants who wish to work, and pass on, their personal and traditional village lands. Not being fully open to capital markets, and having state intervention in the economy, as in China, has promoted growth, but it has effectively also created something like a comprador elite which strips the land of its resources, and many people of their most basic rights.
3 comments:
This is actually misleading -- Vietnam has indeed developed immensely since the introduction of Doi Moi in the early 1990s, but it has done so at the expense of installing an ever-increasingly corrupt, dictatorial and plutocratic elite, aligned with the army and the security forces, which just arbitrarily seizes land and goods (without compensation) from ordinary citizens/peasants who wish to work, and pass on, their personal and traditional village lands. Not being fully open to capital markets, and having state intervention in the economy, as in China, has promoted growth, but it has effectively also created something like a comprador elite which strips the land of its resources, and many people of their most basic rights.
Oh, pretty much the same as capitalism. Who knew?
Laos is the gold standard for socialist success:
https://laospdrnews.wordpress.com/2019/09/27/first-j-pop-style-girl-band-makes-debut-in-laos/
Post a Comment