Vietnam, Expert Exporter
Want to set the right mood for a high-stakes meeting?
• less than 3 min read
Want to set the right mood for a high-stakes meeting between President Trump and North Korean leader Kim Jong-un in Vietnam? Dim the lights and cue up the Spotify playlist “Nuclear Summit Jamz 2019.” And most importantly, stalk the host’s economy.
In its post-war years, Vietnam suffered under global isolation. That started to change in 1986, when government reforms (called Doi Moi) kickstarted a market economy. In 1995, the U.S. and Vietnam normalized relations...and never looked back.
The key? Focus on exports.
- In 1995, total trade in goods between the U.S. and Vietnam was $451 million. In 2018, trade topped $54 billion. Major Vietnamese exports include electronics, shoes, and apparel, per the AP.
- Speaking of electronics, Samsung has invested heavily in Vietnam and employs over 100,000 people in the country.
- There’s always a but: Productivity levels remain low, and reliance on foreign investment puts Vietnam at risk to downturns.
via CFR
+ Pop quiz: What is the Vietnamese currency?
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.
Morning Brew delivers quick and insightful updates about the business world every day of the week from Wall St. to Silicon Valley.
By subscribing, you accept our Terms & Privacy Policy.