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Video
In just two decades Vietnam's exports have skyrocketed. In the same time period, their GDP per capita also took a big jump from from 3 And, this is probably the only nation in Southeast Asia whose economy remained in a good shape despite the pandemic.
In 1986 Vietnam launched a political and economic innovation campaign Doi Moi that introduced reforms intended to facilitate the transition from a centralized economy to a "socialist-oriented market economy. Doi Moi combined government planning with free-market incentives. This was similar to what China was doing at that time. At first the program abolished agricultural collectives, removed price controls on agricultural goods, and enabled farmers to sell their goods in the marketplace. It encouraged the establishment of private businesses and foreign investment, including foreign-owned enterprises. By the late 1990s, the success of the business and agricultural reforms under Doi Moi was incredible. More than 30,000 private businesses had been created, and the economy was growing at an annual rate of more than 7 percent. From the early 1990s to 2005, poverty declined from about 50 percent to 29 percent of the population. However, progress varied geographically, with most development concentrated in urban areas. While the country has shifted toward a more market-oriented economy, the Vietnamese government still continues to hold a tight rein over major sectors of the economy, such as the banking system, state-owned enterprises, and areas of foreign trade.
Also from the last 20-30 years Vietnam invested a lot in its human capital and infrastructure. Vietnam made large public investments in primary education. This was necessary, as a growing population also means a growing need for jobs. But Vietnam also invested heavily in infrastructure. And those investments paid off, with the necessary infrastructure and with market-friendly policies in place, Viet Nam became a hub for foreign investment and manufacturing in Southeast Asia.
Yet despite becoming an industrial giant, Vietnam's agricultural sector is still a major pillar of the economy. Agriculture represents 14% of GDP and employs 36% of the total workforce in 2020. Whereas Industry contributed 34.5% of GDP and employed 28% of the total workforce. Service sector represented 41.6% of GDP and employed 35% of the total workforce.
Now if you look at the trade. Today China is Vietnam’s leading trading partner with a total import and export value of US$106.7 billion, making up 22.2% of the country’s total imports and exports. Apart from China, South Korea and the US combined makes 26% of total trade which is value's 120 billion dollars.
The International trade agreements of the country have been playing a good role. In 1995, Vietnam joined the Asean free trade area. Then in the year 2000, they signed a free trade agreement with the US, and in 2007 joined the World Trade Organization. While having trade agreements with China, India, Japan and Korea. And how can we forget the recently amended Trans-Pacific Partnership. These agreements are helping the country to climb up in the value chain of the world economy.
So at the end, we can say that, in the past 30 years Vietnam has achieved tremendous growth and it is still one of the fastest growing economies. And even with all these challenges, Vietnam has potential to join the club of the high income status. And who know someday they could get near the ranks of China.
- Course related:
- AF2602 Global Economic Environment
- Subjects:
- Finance and Economics
- Keywords:
- Vietnam Economic history
- Resource Type:
- Video
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Others
Students read about the Federal Reserve System's structure and goals and the tools it uses to control the flow of money and credit in the economy. At the end of this activity, learners are asked to write how they would solve specific economic problems if they served on the Fed's Board of Governors.
- Subjects:
- Economics and Finance
- Keywords:
- Money supply Fiscal policy Macroeconomics
- Resource Type:
- Others
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e-book
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e-book
The University of North Georgia Press and Affordable Learning Georgia bring you Accounting I. Well-written and straightforward, Principles of Financial Accounting is a needed contribution to open source pedagogy in the business education world. Written in order to directly meet the needs of her students, this textbook developed from Dr. Christine Jonick’s years of teaching and commitment to effective pedagogy. Features: Peer reviewed by academic professionals and tested by students Over 100 charts and graphs Instructional exercises appearing both in-text and for Excel Resources for student professional development This textbook is an Open Education Resource. It can be reused, remixed, and reedited freely without seeking permission.
- Subjects:
- Finance and Accounting
- Keywords:
- Accounting Textbooks
- Resource Type:
- e-book
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e-book
Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. Due to the comprehensive nature of the material, we are offering the book in two volumes. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today’s college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the “why” as well as the “how” aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
- Subjects:
- Finance and Accounting
- Keywords:
- Managerial accounting Textbooks Accounting
- Resource Type:
- e-book
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e-book
Principles of Accounting is designed to meet the scope and sequence requirements of a two-semester accounting course that covers the fundamentals of financial and managerial accounting. Due to the comprehensive nature of the material, we are offering the book in two volumes. This book is specifically designed to appeal to both accounting and non-accounting majors, exposing students to the core concepts of accounting in familiar ways to build a strong foundation that can be applied across business fields. Each chapter opens with a relatable real-life scenario for today’s college student. Thoughtfully designed examples are presented throughout each chapter, allowing students to build on emerging accounting knowledge. Concepts are further reinforced through applicable connections to more detailed business processes. Students are immersed in the “why” as well as the “how” aspects of accounting in order to reinforce concepts and promote comprehension over rote memorization.
- Subjects:
- Finance and Accounting
- Keywords:
- Accounting Textbooks
- Resource Type:
- e-book
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e-book
Personal Finance by Rachel Siegel and Carol Yacht is a comprehensive Personal Finance text which includes a wide range of pedagogical aids to keep students engaged and instructors on track. This book is arranged by learning objectives. The headings, summaries, reviews, and problems all link together via the learning objectives. This helps instructors to teach what they want, and to assign the problems that correspond to the learning objectives covered in class. Personal Finance includes personal finance planning problems with links to solutions, and personal application exercises, with links to their associated worksheet(s) or spreadsheet(s). In addition, the text boasts a large number of links to videos, podcasts, experts' tips or blogs, and magazine articles to illustrate the practical applications for concepts covered in the text. Rachel would love to hear from you. If you have questions about teaching with her book, comments about teaching Personal Finance, or just feedback, feel free to email her at rachelsiegelcfa@hughes.net. This textbook has been used in classes at: Miami University.
- Subjects:
- Finance
- Keywords:
- Investments Finance Personal Textbooks
- Resource Type:
- e-book
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e-book
Open Textbook Library provides free, peer-reviewed and openly-licensed textbooks.
- Subjects:
- Accounting and Finance
- Keywords:
- Accounting Finance
- Resource Type:
- e-book
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e-book
The financial crisis of 2007-8 has already revolutionized institutions, markets, and regulation. Wright's Money and Banking V 2.0 captures those revolutionary changes and packages them in a way that engages undergraduates enrolled in Money and Banking and Financial Institutions and Markets courses. Minimal mathematics, accessible language, and a student-oriented tone ease readers into complex subjects like money, interest rates, banking, asymmetric information, financial crises and regulation, monetary policy, monetary theory, and other standard topics. Numerous short cases, called "Stop and Think" boxes, promote internalization over memorization. Exercise drills ensure basic skills competency where appropriate. Short, snappy sections that begin with a framing question enhance readability and encourage assignment completion. The 2.0 version of this text boasts substantive revisions (additions, deletions, rearrangements) of almost every chapter based on the suggestions of many Money and Banking instructors. Some specific highlights are: Chapter 11 now contains enhanced descriptions of recent regulatory changes, including Dodd-Frank, Chapter 12 is an entirely new chapter on derivatives covering forwards, futures, options, and swaps that also including comprehensive treatment of the causes and consequences of financial crises, and Chapter 14 has updated discussions of the Federal Reserve's monetary policy tools, including paying interest on reserves, and the structure and leadership of the European Central Bank. Recent financial turmoil has increased student interest in the financial system but simultaneously threatens to create false impressions and negative attitudes. This up-to-date text by a dynamic, young author encourages students to critique the financial system without rejecting its many positive attributes. Peruse the book online now to see for yourself if this book fits the needs of your course and students. This textbook has been used in classes at:Augustana College, Central Michigan University, Florida State University, Lyndon State College, Princeton University, Rutgers University, University of Southern Maine, Western Oregon University., Westminster College.
- Subjects:
- Finance
- Keywords:
- Financial institutions Money Banks banking Textbooks
- Resource Type:
- e-book
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Courseware
After reviewing tools from probability, statistics, and elementary differential and partial differential equations, concepts such as hedging, arbitrage, Puts, Calls, the design of portfolios, the derivation and solution of the Blac-Scholes, and other equations are discussed.
- Subjects:
- Finance and Mathematics and Statistics
- Keywords:
- Business mathematics
- Resource Type:
- Courseware