July 31, 2012

Can the Vietnam economy recover?

Two articles in recent times appear to show conflicting views of the Vietnamese economy.

In February 2012, the McKinsey Quarterly published an article entitled: “Taking Vietnam’s economy to the next level.” The authors argue that: “To continue on a strong GDP growth trajectory, the country should work to raise its labor productivity.”

Click here to read the article.

But in July, Foreign Policy published an article by Geoffrey Cain: “The end of the Vietnamese Miracle.”

Click here to read the article.

My view is that Vietnam’s growth over the last decade was not really a “Miracle” and there are problems that need to be overcome. What do readers think?