Description

The Socialist Republic of Vietnam is a Southeast Asian nation with a population of roughly 100 million. Situated in a region marked by historical tensions, Vietnam strives to maintain its sovereignty amid China’s expanding influence and the escalating rivalry among global powers.

This geopolitical landscape positions Vietnam as a crucial player, balancing the looming China to its north with its long-standing ties to Russia and growing relationships with the United States and Europe. To navigate these complexities, Vietnam requires a robust and dynamic economy. The communist-ruled country has adopted a distinctive state capitalism model that has produced decades of significant growth, fostered entrepreneurship and attracted significant foreign investment.

Despite its impressive economic trajectory, Vietnam grapples with significant challenges in avoiding the middle-income trap and enhancing its position in global value chains. The country’s repressive political environment deters potential international partners, complicating its developmental aspirations. Also, geographic vulnerabilities persist, particularly regarding its extensive maritime boundaries in the South China Sea, where ongoing territorial disputes with China create tensions and occasional flareups.

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