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?