July 29, 2014

Welcome to the New Vietnam

Michael J. Totten, World Affairs Journal

The Associated Press

The ruling Communist Party knows better than just about anyone that communist economics are a disaster. Vietnam’s economy has been growing at light speed for a while now. I knew that in advance, and yet it still stunned me. The city trembles with industriousness and entrepreneurship. Small and large businesses are everywhere. Half the residents seem to be in business for themselves. Anything and everything you can possibly imagine is for sale, though it’s not all high-end yet. I saw a Louis Vuitton outlet next to a bootleg CD store, an elegant Western-style café next to low-end bar with hard chairs and no air-conditioning, a Body Shop next to a used clothing store with cast-off second-hand T-shirts from the West, and an art gallery next to a store selling old pots and pans.

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TAGGED: Vietnam, Ho Chi Minh City