Why is Vietnam still a poor country despite all the resources it had?

Profile photo for Neel Patel

Neel Patel · Lives in Vietnam7y

Because Vietnam had possibly the worst possible set of circumstances post WWII of any country in the entire world. First, the French did not immediately give it independence the way the British did with India. Instead Vietnam had to fight a war against France, which later turned into a war against the US. In the process millions died and millions more left, often the educated and businessman Vietnamese who were important to the economy. A lot of the country was devastated. Then after Vietnam finally gained its independence completely in the 1970’s (way later than countries like Indonesia, India, Philippines, etc), it had to fight wars with Cambodia and China.

All along western sanctions were still imposed until the 90’s. Diplomatic relations with the US were not re-established until the 90’s. The economy in the 70’s and 80’s did not do well because it was closed off from the rest of the world and heavily socialist and dependent on the USSR. Finally around 1986 the government at least reformed the economy to be more free market. Since that time Vietnam has grown fast. It is now a stable country with one of the fastest growing economies in the world.

I would say that Vietnam is an accident of history. It should be a richer nation at least at the level of Taiwan, Malaysia, South Korea or mainland China. Vietnamese have very high IQs, some studies put them at the same level as Germany even though Germany is a much richer country. Vietnamese also are very entrepreneurial and work hard along with having good family values. All these things are keys to having a successful country and society.

If you came to Vietnam over ten years ago it was still not common to see cars, skyscrapers, nice highways etc. Now the country is booming and it’s obvious that things are improving. I think if it can grow for another 10–20 years it will become a upper middle income level country.

32.8K views

View 382 upvotes

View 4 shares1 of 137 answers

Đã đăng trong VN

Bình luận về bài viết này