This week's column

Capitalism's reverse domino effect in Vietnam

The Economist magazine recently published a special report on Vietnam. It's a fascinating story of how a closed political system rapidly opened itself up to globalization's transformative embrace by mixing role models from all over the globe, including accepting outside religious influences.

Call it the reverse domino effect: Vietnam goes super-capitalist to keep up with its northern neighbor -- uber-capitalist China. And with incomes rising rapidly, Vietnamese naturally reach for spiritual handholds to guide their tumultuous journey from extreme deprivation to abundant opportunity.

Read on at Scripps Howard.
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Comments

[historyguy99]

Ever since I served in Vietnam I've had a love hate relationship with all things Vietnamese. Over the years, I have come to see the changes occuring before my aging eyes.

My fondness for the people of Vietnam never trumped my feelings created by political entities. I am grateful to see the true recipients of this change are the people of Vietnam, for they have suffered enough.

Like Tom has said before, time and time again, it's the jobs that will bring security, followed by a demand by empowered people for more a more open government.

[Jack]

@ historyguy99 - For me, the lesson here is not jobs (although, without doubt, those are obviously important). For me, the lesson is food production.

It seems from the column that Vietnam began its recovery by improving its agricultural sector, to the point of being a major exporter. The increased productivity in turn set farmers off to the cities, where they are sources of cheap labor. But it starts with the food.

Vietnam seems a straightforward contrast to Egypt. An op-ed by Thomas Friedman points to the growing food problems in Egpyt (among other places). Friedman's point is especially germane: Egypt is facing potentially crippling food shortages and price increases, despite pretty solid economic growth.

http://www.nytimes.com/2008/06/15/opinion/15friedman.html

I don't think we can afford to forget the hierarchy of needs: basic survival comes first for people, and (I can only assume) must do so for nations as well.