Vietnam’s Long March From War to Development: Turning Great Power Invaders to Investors analyses the various dimensions of the Vietnamese process of reforms known as renovation which started in 1986. Among the transitional economies in Asia, the former Soviet Union and the East European Socialist Countries, Vietnam’s transition is considered not only to be crisis free but also the most successful one. Even China, which has achieved the status of the fastest growing economy in the world, encountered instability in its transition process. The reform process in Vietnam has enjoyed the confidence of the people. In the last two decades reforms have led Vietnam to achieve remarkable achievements in various fronts. Vietnam quickly recovered from a major crisis marked by near-famine and hyperinflation situations in 1986-89 to attain macroeconomic stability and a consistently high GDP growth rate over a prolonged period from 1989 to 2006. This book analyses Vietnam’s progress in various field in the last two decades. The book also death with the country’s efforts in joining the world economy, tracing its journey from the socialist council for mutual economic assistance, to its acceptance as the One hundred fifteenth member of the biggest capitalist free trade club, the World Trade Organisation.
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