Lucia Millar · Lives in Asia Updated 4y

Among Thailand, the Philippines, Malaysia, and Vietnam, which country will be the 1 trillion economy the soonest? Why?

Question: Among Thailand, the Philippines, Malaysia, and Vietnam, which country will be the 1 trillion economies the soonest? Why?

Answer: From the source of IMF, in the GDP PPP index, after Indonesia and Thailand, Vietnam has already become the 1 trillion-dollar economy in 2020. Also, I think that the Philippines and Malaysia will also be the trillion-dollar economy in the next few years. Myanmar will be the potential candidate to become the trillion-dollar economy but it is still far away to get this point.

Vietnam:

(Ho Chi Minh City, Vietnam)

(Vietnam: Gross domestic product (GDP) in current prices from 1984 to 2021

[1] )

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.