Vietnam: Hero to Zero

[BSB]

Hero to zero

The Communist Party sticks to its principles and the economy stalls
Mar 31st 2012 | HANOI 

AMID the bustling trade and raucous traffic of the Vietnamese capital, innumerable banners exhort citizens to “Celebrate the Spring, Celebrate the Party.” These days, Hanoians do not have much to celebrate. Not long ago, Vietnam was one of the developing world’s pin-ups. Now it is lagging badly.

http://www.economist.com/node/21551538

[BSB]

Too bad. Vietnam is a fascinating place full of hardworking people.


BSB

[Xavier_Onassis]

I just bought a really nice art supply set for a budding artist from woot. I also bought some neat lock and lock plastic storage leftover thingies, all very nice, priced right and well made in Vietnam.

It is a lot easier to China to triumph at capitalism than for a smaller country to do so.

[BSB]

According to this article they're stalled politically with one foot in the future and and one in the past. I suspect that's true. The party has to decide to go all in. When they do that they'll be ok.

BSB

[Xavier_Onassis]

Vietnam's problem is inflation. No one appreciates the dong, and the dong refuses to appreciate.

One dollar will get you 20,805 VND. US $ 49.00  will make you a millionaire.

The dong is now made of plastic polymer.

[BSB]

$49 = millionaire?   

What time does the plane leave?


BSB

[Xavier_Onassis]

Unfortunately, a million dong is still only worth about $49. I am pretty sure that a night in a fancy hotel would set you back more than a million dong.

I was a Guarani millionaire for a short spell in Paraguay. A million Guarani is $250 US.