So why is Vietnam so poor?

Question

So why is Vietnam so poor?

Answer 1

because it has low climate not good weather and yada yada

Answer 2

Vietnam’s current poverty is a matter of perspective. Why Vietnam is perceived as being poor is because it was one of the poorest countries in the world before it’s economic system changed to a market economy.

North Vietnam had been under communist control since 1955 and all of Vietnam was controlled by communism since 1975. Vietnam’s communism before 1986 controlled both the government and the economy. A combination of North Vietnam retaliation on the South Vietnamese after the Vietnam War ended, Vietnamese aggression and occupation of Cambodia and Laos and the central controlled (communist) economy structure caused Vietnam’s economy to tank. Vietnam was completely reliant on economic support from the Soviet Union until the Soviet Union itself collapsed.  Vietnam became the third poorest country in the world by 1986.

Adding to all this was a massive baby boom after the Vietnam War, which now accounts for 60% of Vietnam's current population. The shrinking economy and increasing population forced Vietnam’s government to enact Doi Moi (reform) in 1986 as the start of transforming the failed central controlled economy into a market (capitalist) controlled economy. Vietnam has experienced tremendous economic growth and growing prosperity since then.

Vietnam’s economy has been rated as the second fastest growing Asian economy (behind China) for the past several years. Vietnam is the largest exporter of rice in the world. Manufacturing, technology, energy, mining, farming, tourism and other industries are growing rapidly. Vietnam currently has one of the lowest official unemployment rates in the world (about 2%). However, the unemployment information is likely distorted.

While the urban areas in Vietnam are experiencing incredible progress, most of the rural areas are still experiencing extreme poverty, which is where the majority of Viets live. It’s common to find families in rural areas with an income less than  $10/month. The lack of income opportunity in rural areas is the primary cause of such poverty. Such problems give the rest of the world an impression that Vietnam continues to be a very poor country. However, the Viets living in rural areas may not see themselves as being poor.

Vietnam’s society is focused more on family instead of money. It is more important to have a happy family than to have “things”, and you will find most Viets living happy and content despite being poor compared to Western standards. Long story short – The richest Vietnamese is the one who has the happiest family and not the one who has the fattest wallet.

Answer 3

Vietnam used to be rich, it had a culture, history and then the Americans poked their nose in. and now they are recovering, so it wont be long before Daddy Bigbucks will be back.

Answer 4

Vietnam is like almost other countries, there are also rich & poor areas. Vietnam is developing after the war. So, VN is quite poor because of the war. But right now, you can come and feel the peace and friendly here.

Let try and comeback

Answer 5

The people don't have a lot of money.