3 ms·
I wouldn't say it's abject poverty. But it's certainly far less developed than South Korea or Taiwan, which is the most likely counterfactual for a free South V
by dcolkitt 5y ago
I wouldn't say it's abject poverty. But it's certainly far less developed than South Korea or Taiwan, which is the most likely counterfactual for a free South Vietnam. OTOH you could possibly argue (though far more speculatively) that North Vietnam would've turned into North Korea from the paranoia, isolation and humiliation of a loss.
- alephnan 5y agoVietnam did not have a derivatives market until 5 years ago with liquidity being a fraction of other capital markets. It's hard for long term growth when farmers can't hedge an off season Additionally, you can look at food scarcity rates and the unbanked population.
- platinumrad 5y agoThose two countries were impoverished military dictatorships for the first few decades as well. They also received significant economic support from the United States. Vietnam is still developing.