World Trade Organization ( Wto )

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Han Ah Song
Section 107
May 24th, 2015
Essay 3


Even with a series of wars lasting for decades and the reunification at last in 1976, Vietnam was not awarded with peace on its agenda; the country remained having to face with economic turbulence, post-war damages and continuous natural disasters from 1977 to 1980 including the massive flood in 1978. For a nation heavily focused on rice production, nature destruction and desolated land meant famine. This was clearly indicating the insignificance of five-year systems for a strong political and economic reform in Vietnam, so the government introduced a new outlook to renovation with Doi Moi policies in 1986. It provided Vietnam with a revolutionary transformation from a …show more content…

Vietnam had undergone a significant economic change and development with the initiation of Doi Moi policies in 1986 under the 7th Congress of the Communist Party. The rapid economic growth was closely carried out by the open-door policy, establishing diplomatic and economic relations with its neighboring Asian countries and powerful Western European countries. International investors and private corporations marched in to establish themselves on the empty canvas that Vietnam is. Ho Chi Minh City and Hanoi as the central development sites, Transnational Corporations (TNCs) were drawn into these cities where economic development was carried out with rapid industrialization. Civilians sought for the economic and social mobility opportunities as they poured into these central cities. Massive rural-to-urban migration movement was especially at its peak, providing a large pool of concentrated skilled workers to growing industries and foreign investors. The industries in urban areas were ever evolving and emerging into global cities with population growth as they gained its popularity as a new site for international investment. Compared to the reported 85 percent of rural population in the early 1980s, Vietnamese rural population was cut down to 75 percent in 2004 (Country Profile). In the year 1995, Vietnam made important marks as a rapidly globalizing

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