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GDP per capita development in Vietnam. The economy of Vietnam is a developing mixed socialist-oriented market economy. [3] It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a lower-middle income country with a low cost of living.
The poor are disproportionately likely to be from an ethnic minority. The percentage of households with heads coming from ethnic minorities increased from 17,8 percent in 1993 to 40,7 percent in 2008. [27] The poor have limited education: people who have not completed primary education account for the highest rate of poverty. [27]
Vietnam has argued to be freed of the non-market label because of recent economic reforms, saying retaining the moniker is bad for increasingly close two-way ties that Washington sees as a ...
The primary social issues in Vietnam are rural and child poverty. Vietnam scores 37.6 in the Gini coefficient index of wealth inequality, with the top 10% accounting for 30.2% of the nation's income and the bottom 10% receiving 3.2%. In 2008, 14% of the population lived below the national poverty line of US$1.15 per day.
The widely followed MSCI Emerging Markets Index is up year-to-date, but the 8.6% gain for that benchmark (as of June 2) isn’t enough for investors to be fawning for developing economies. However ...
The stock market's steady decline this year has bitten into everyone's investments, and many experts think this bear market will last perhaps into early 2023. Since World War II, bear markets have...
Vietnam also lags behind China in terms of property rights, the efficient regulation of markets, and labor and financial market reforms. State-owned banks that are poorly managed and suffer from non-performing loans still dominate the financial sector. [3] Vietnam had an average growth in GDP of 7.1% per year from 2000 to 2004.
Anhao Paper Factory, 1961. South Vietnam had a small industrial sector and fell far behind other countries in the region in this respect. [1] Output increased 2.5 to 3 times over the 20 years of the country's existence, but the share in total GDP remained at only around 10%, even dropping to 6% in some years, while the economy was dominated by strong agricultural and service sectors. [1]