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How Capitalism Beat Communism in Vietnam

26 Mar 2024 | Abstracted from Reason

"As late as 1993, 79.7 percent of the Vietnamese population was living in poverty. By 2020, the poverty rate had fallen to 5 percent. Vietnam is now one of the most dynamic countries in the world, with a vibrant economy that creates great opportunities for hardworking people and entrepreneurs.

"Changes to policy began at the local level...provinces in the Mekong Delta, for example, moved from the rationing subsidy system to a market-based system as early as the 1980s."

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