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Đổi Mới
(, ; ) is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy". The term itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate". However, the Đổi Mới Policy () refers specifically to these reforms that sought to transition Vietnam from a command economy to a socialist-oriented market economy. The Đổi Mới economic reforms were initiated by the Communist Party of Vietnam in 1986 during the party's 6th National Congress. These reforms introduced a greater role for market forces for the coordination of economic activity between enterprises and government agencies and allowed for private ownership of small enterprises and the creation of a stock exchange for both state and non-state enterprises. Background After reunification in 1975, the economy of Vietnam was plagued by enormous difficulties in production, imbalances in supply and demand, ineff ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Socialist-oriented Market Economy
The socialist-oriented market economy (Vietnamese: ''Kinh tế thị trường theo định hướng xã hội chủ nghĩa'') 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. 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. The economic model is similar to the socialist market economy employed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heavy Industry
Heavy industry is an industry that involves one or more characteristics such as large and heavy products; large and heavy equipment and facilities (such as heavy equipment, large machine tools, huge buildings and large-scale infrastructure); or complex or numerous processes. Because of those factors, heavy industry involves higher capital intensity than light industry does, and it is also often more heavily cyclical in investment and employment. Though important to economic development and industrialization of economies, heavy industry can also have significant negative side effects: both local communities and workers frequently encounter health risks, heavy industries tend to produce byproducts that both pollute the air and water, and the industrial supply chain is often involved in other environmental justice issues from mining and transportation. Because of their intensity, heavy industries are also significant contributors to greenhouse gas emissions that cause climat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1997 Asian Financial Crisis
The Asian financial crisis was a period of financial crisis that gripped much of East Asia and Southeast Asia beginning in July 1997 and raised fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid and worries of a meltdown subsided. The crisis started in Thailand (known in Thailand as the ''Tom Yam Kung crisis''; th, วิกฤตต้มยำกุ้ง) on 2 July, with the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, most of Southeast Asia and later South Korea and Japan saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. South Korea, Indonesia and Thailand were ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thailand
Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the extremity of Myanmar. Thailand also shares maritime borders with Vietnam to the southeast, and Indonesia and India to the southwest. Bangkok is the nation's capital and largest city. Tai peoples migrated from southwestern China to mainland Southeast Asia from the 11th century. Indianised kingdoms such as the Mon, Khmer Empire and Malay states ruled the region, competing with Thai states such as the Kingdoms of Ngoenyang, Sukhothai, Lan Na and Ayutthaya, which also rivalled each other. European contact began in 1511 with a Portuguese diplomatic mission to Ayutthaya, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Khmer Rouge
The Khmer Rouge (; ; km, ខ្មែរក្រហម, ; ) is the name that was popularly given to members of the Communist Party of Kampuchea (CPK) and by extension to the regime through which the CPK ruled Cambodia between 1975 and 1979. The name was coined in the 1960s by then Chief of State Norodom Sihanouk to describe his country's heterogeneous, communist-led dissidents, with whom he allied after his 1970 overthrow. The Khmer Rouge army was slowly built up in the jungles of eastern Cambodia during the late 1960s, supported by the North Vietnamese army, the Viet Cong, the Pathet Lao, and the Chinese Communist Party (CCP). Although it originally fought against Sihanouk, the Khmer Rouge changed its position and supported Sihanouk on the advice of the CCP after he was overthrown in a 1970 coup by Lon Nol who established the pro-American Khmer Republic. Despite a massive American bombing campaign (Operation Freedom Deal) against them, the Khmer Rouge won the Cambodian C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambodia
Cambodia (; also Kampuchea ; km, កម្ពុជា, UNGEGN: ), officially the Kingdom of Cambodia, is a country located in the southern portion of the Indochinese Peninsula in Southeast Asia, spanning an area of , bordered by Thailand to the northwest, Laos to the north, Vietnam to the east, and the Gulf of Thailand to the southwest. The capital and largest city is Phnom Penh. The sovereign state of Cambodia has a population of over 17 million. Buddhism is enshrined in the constitution as the official state religion, and is practised by more than 97% of the population. Cambodia's minority groups include Vietnamese, Chinese, Chams and 30 hill tribes. Cambodia has a tropical monsoon climate of two seasons, and the country is made up of a central floodplain around the Tonlé Sap lake and Mekong Delta, surrounded by mountainous regions. The capital and largest city is Phnom Penh, the political, economic and cultural centre of Cambodia. The kingdom is an elective co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Laos
Laos (, ''Lāo'' )), officially the Lao People's Democratic Republic ( Lao: ສາທາລະນະລັດ ປະຊາທິປະໄຕ ປະຊາຊົນລາວ, French: République démocratique populaire lao), is a socialist state and the only landlocked country in Southeast Asia. At the heart of the Indochinese Peninsula, Laos is bordered by Myanmar and China to the northwest, Vietnam to the east, Cambodia to the southeast, and Thailand to the west and southwest. Its capital and largest city is Vientiane. Present-day Laos traces its historic and cultural identity to Lan Xang, which existed from the 14th century to the 18th century as one of the largest kingdoms in Southeast Asia. Because of its central geographical location in Southeast Asia, the kingdom became a hub for overland trade and became wealthy economically and culturally. After a period of internal conflict, Lan Xang broke into three separate kingdoms: Luang Phrabang, Vientiane and Champasak. In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA), two of five international organizations owned by the World Bank Group. It was established along with the International Monetary Fund at the 1944 Bretton Woods Conference. After a slow start, its first loan was to France in 1947. In the 1970s, it focused on loans to developing world countries, shifting away from that mission in the 1980s. For the last 30 years, it has included NGOs and environmental groups in its loan portfolio. Its loan strategy is influenced by the Sustainable Development Goals as well as environmental and social safeguards. , the World Bank is run by a president and 25 executive directors, as well as 29 various vice ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making it the world's sixteenth-most populous country. Vietnam borders China to the north, and Laos and Cambodia to the west. It shares maritime borders with Thailand through the Gulf of Thailand, and the Philippines, Indonesia, and Malaysia through the South China Sea. Its capital is Hanoi and its largest city is Ho Chi Minh City (commonly known as Saigon). Vietnam was inhabited by the Paleolithic age, with states established in the first millennium BC on the Red River Delta in modern-day northern Vietnam. The Han dynasty annexed Northern and Central Vietnam under Chinese rule from 111 BC, until the first dynasty emerged in 939. Successive monarchical dynasties absorbed Chinese influences through Confucianism and Buddhism, and expanded ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Republic Of China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and borders fourteen countries by land, the most of any country in the world, tied with Russia. Covering an area of approximately , it is the world's third largest country by total land area. The country consists of 22 provinces, five autonomous regions, four municipalities, and two Special Administrative Regions (Hong Kong and Macau). The national capital is Beijing, and the most populous city and financial center is Shanghai. Modern Chinese trace their origins to a cradle of civilization in the fertile basin of the Yellow River in the North China Plain. The semi-legendary Xia dynasty in the 21st century BCE and the well-attested Shang and Zhou dynasties developed a bureaucratic political system to serve hereditary monarchies, or dyna ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Liability Company
A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states (for example, Texas), businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC). An LLC is a hybrid le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
