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Global Glimpse |
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The mountainous landscape of Sapa with its unique terrace farms. ©Copyright Nick Rivette. |
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Global Glimpse: Vietnam #1 |
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June 18, 2008 Returning to Vietnam after my initial visit to this region two years ago will provide an interesting opportunity to compare the country’s and peoples’ progress and development. Vietnam is now a full member of the World Trade Organization and over the past several years the global economy has significantly changed in response to Vietnam’s emergence as a powerful, international economic force. In general the world economy is rattled by the U.S. mortgage crisis, increasing food and other commodity prices, and rising fuel costs. To various degrees these factors are affecting the nations who are actively participating in the global economy; including Vietnam. Vietnam is one of many developing nations affecting and influencing globalization. These developing nations grow gradually at first, and then suddenly emerge as large markets. Vietnam has 84 million citizens with over half of the population under the age of 30. Growth rates range from 7-9% with much of the growth fueled by foreign direct investment and a motivated, entrepreneurial class of young people. As a result, Vietnam’s society is witnessing an unprecedented growth of a new middle class. This new and driven workforce is both prosperous and completely new to the Socialist Republic of Vietnam. During our initial visit we were able to assist our guide, Viet, in moving forward to establishing his own travel and business translation company. Viet and his company are a reflection of the economic and entrepreneurial opportunities that are available in Vietnam, despite its centralized economy and communist government, June’s global glimpse will feature observations and information regarding Vietnam, its culture, and its business and personal interactions. Cities and regions will include Hanoi, Sapa, DaNang, Hoian and Hue as well as the former demilitarized zone. Previous entries will be available as pdf’s in the archives. Thank you for your interest! On behalf of the Wirt Group, Clarence Rivette |
