Socialist-oriented market economy: Difference between revisions
More languages
More actions
m (Fixed defunct hyperlink) Tag: Visual edit |
(I've added an origin section to the article describing the circumstances leading up to use of the Socialist oriented market economy. This section is equally applicable to the Doi Moi reforms article, so feel free to use it there is you'd like.) Tag: Visual edit |
||
| Line 3: | Line 3: | ||
The socialist-oriented market economy is a product of the [[Doi Moi economic reforms|Đổi Mới economic reforms]] which led to the replacement of the [[Planned economy|centrally planned economy]] with a market-based [[mixed economy]] based on the predominance of state-owned industry. These reforms were undertaken to allow Vietnam to integrate with the global market economy. The term "socialist-oriented" is used to highlight the fact that Vietnam has not yet achieved socialism and is in the process of building the basis for a future socialist system.<ref>{{cite AV media|date=April 26, 2016|title=Socialism plus markets: Vietnam's chosen path|medium=Video|language=en|url=https://www.youtube.com/watch?v=LEHJ040BBzQ|access-date=May 12, 2019|publisher=YouTube}}</ref> The economic model is similar to the [[Socialist market economy|Socialist Market Economy]] employed in the [[People's Republic of China]]. | The socialist-oriented market economy is a product of the [[Doi Moi economic reforms|Đổi Mới economic reforms]] which led to the replacement of the [[Planned economy|centrally planned economy]] with a market-based [[mixed economy]] based on the predominance of state-owned industry. These reforms were undertaken to allow Vietnam to integrate with the global market economy. The term "socialist-oriented" is used to highlight the fact that Vietnam has not yet achieved socialism and is in the process of building the basis for a future socialist system.<ref>{{cite AV media|date=April 26, 2016|title=Socialism plus markets: Vietnam's chosen path|medium=Video|language=en|url=https://www.youtube.com/watch?v=LEHJ040BBzQ|access-date=May 12, 2019|publisher=YouTube}}</ref> The economic model is similar to the [[Socialist market economy|Socialist Market Economy]] employed in the [[People's Republic of China]]. | ||
=== Origin === | |||
After the [[United States of America|United States']] imperialist [[Vietnam War|war on Vietnam]], the country's infrastructure was essentially nonexistent, due to the heaviest bombing campaign in military history up to that point.<ref>{{Web citation|author=University of California, Berkeley|title=The Long Run Impact of Bombing Vietnam|date=October 2009|url=https://eml.berkeley.edu/~groland/pubs/vietnamoct09.pdf|quote=The Vietnam War featured the most intense bombing campaign in military history and had massive humanitarian costs.}}</ref> During the reconstruction period, the only major country willing to assist Vietnam was the [[Union of Soviet Socialist Republics (1922–1991)|Union of Soviet Socialist Republics.]] The USSR sent various forms of humanitarian aid to Vietnam, including food, fertilizers, machines, and more.<ref name=":0">{{YouTube citation|url=https://www.youtube.com/watch?v=mMubOw5H-yo|channel=Luna oi!|title=Is Vietnam Socialist?|date=Apr 5, 2020}}</ref> In the latter 1980s, the USSR was under the corrupt and bourgeoise leadership of [[Mikhail Gorbachev]], and thus began to support Vietnam less, ultimately ending support with the [[Overthrow of the Soviet Union|undemocratic overthrow of the Soviet Union]]. | |||
As a result of these circumstances, the government of Vietnam was forced into accepting some market reforms in order to be accepted into capitalist and US dominated economic organizations such as the World Trade Organization (WTO). The requirements necessary for Vietnam to be accepted into the WTO were visibly one sided toward the US, but the government had no other choice.<ref name=":0" /><ref>{{Web citation|author=Office of the United States Trade Representative|title=Vietnam’s Accession to the World Trade Organization (WTO)|date=May 2006|url=https://ustr.gov/archive/assets/Document_Library/Fact_Sheets/2006/asset_upload_file521_9445.pdf|quote=Bilateral Agreement will enhance U.S. access to fast-growing Vietnamese market}}</ref> | |||
== References == | == References == | ||
Revision as of 21:52, 5 May 2023
 | Some parts of this article were copied from external sources and may contain errors or lack of appropriate formatting. You can help improve this article by editing it and cleaning it up. (November 2021) |
The socialist-oriented market economy is the official title given to the current economic system in the Socialist Republic of Vietnam. It is described as a multi-sectoral market economy where the state sector plays the decisive role in directing economic development, with the eventual long-term goal of developing socialism.[1]
The socialist-oriented market economy is a product of the Đổi Mới economic reforms which led to the replacement of the centrally planned economy with a market-based mixed economy based on the predominance of state-owned industry. These reforms were undertaken to allow Vietnam to integrate with the global market economy. The term "socialist-oriented" is used to highlight the fact that Vietnam has not yet achieved socialism and is in the process of building the basis for a future socialist system.[2] The economic model is similar to the Socialist Market Economy employed in the People's Republic of China.
Origin
After the United States' imperialist war on Vietnam, the country's infrastructure was essentially nonexistent, due to the heaviest bombing campaign in military history up to that point.[3] During the reconstruction period, the only major country willing to assist Vietnam was the Union of Soviet Socialist Republics. The USSR sent various forms of humanitarian aid to Vietnam, including food, fertilizers, machines, and more.[4] In the latter 1980s, the USSR was under the corrupt and bourgeoise leadership of Mikhail Gorbachev, and thus began to support Vietnam less, ultimately ending support with the undemocratic overthrow of the Soviet Union.
As a result of these circumstances, the government of Vietnam was forced into accepting some market reforms in order to be accepted into capitalist and US dominated economic organizations such as the World Trade Organization (WTO). The requirements necessary for Vietnam to be accepted into the WTO were visibly one sided toward the US, but the government had no other choice.[4][5]
References
- ↑
- ↑ Template:Cite AV media
- ↑ “The Vietnam War featured the most intense bombing campaign in military history and had massive humanitarian costs.”
University of California, Berkeley (October 2009). "The Long Run Impact of Bombing Vietnam" - ↑ 4.0 4.1 Luna oi! (Apr 5, 2020). "Is Vietnam Socialist?". YouTube.
- ↑ “Bilateral Agreement will enhance U.S. access to fast-growing Vietnamese market”
Office of the United States Trade Representative (May 2006). "Vietnam’s Accession to the World Trade Organization (WTO)"