With Vietnam's economic advance comes stark income inequality

[Jlaw]

GDP per capita (current US$) | Data | Graph
GDP per capita (current US$)
View attachment 198496

The rise of SE Asia's income is due to the rise of China. Our SEA friends tend to forget about that.

 

[Shotgunner51]

GDP per capita (current US$) | Data | Graph
GDP per capita (current US$)
View attachment 198496

somehow can't find data on Myanmar.

Wow thanks a lot!

Seems like SEA (even without Singapore) is a whole new league vs South Asia.
- Only Cambodia is yet to improve, international aid is needed
- Vietnam and Lao moving close to $2,000, not bad, entering lower middle-income country list
- Philippines and Indonesia close/surpass $3,000, OK job
- Thailand closing in on $6,000, very good
- Malaysia surpassing $10,000, I think it is poised to become the 2nd developed country in ASEAN after Singapore.

@somsak @powastick

 

[sweetgrape]

Yup very optimistic.

Vietnam could be measured with ASEAN instead of South Asia, but I was surprised to see Vietnam not on of the fastest growing ASEAN countries though, check this:
The 20 Fastest-Growing Economies This Year




I think gauging Vietnam's GDP per capita vs other SE Asian countries would be more meaningful than vs South Asia. Do you have any charts putting Vietnam with other ASEAN countries (exclude Singapore)?

Introduce you a good private site:黑布林北海居 - notheal - 网易博客
The master of the site like gathering economic data, and making the chart, very good:

Yizhi has post the comparision chart， I move the Vietnam GDP chart from Heybrain：

GDP and per capita GDP of Vietnam from 1970~2014（“人均名义GDP”= Nominal per capita GDP, "美元“=”USD“）：

Credit to heybrain：

 

[powastick]

Wow thanks a lot!

Seems like SEA (even without Singapore) is a whole new league vs South Asia.
- Only Cambodia is yet to improve, international aid is needed
- Vietnam and Lao moving close to $2,000, not bad
- Philippines and Indonesia close/surpass 3,000, OK job
- Thailand closing in on $6,000, very good
- Malaysia surpassing $10,000, I think it is poised to become the 2nd developed country in ASEAN after Singapore.

@somsak @powastick

Thank you China for buying our Palm Oil and more Infrastructure funding.

 

[Shotgunner51]

Thank you China for buying our Palm Oil and more Infrastructure funding.

It's co-prosperity, the wins as well as gratitude are mutual bro.

Kam Shia Lao Hiang!

 

[Jlaw]

Introduce you a good private site:黑布林北海居 - notheal - 网易博客
The master of the site like gathering economic data, and making the chart, very good:

Yizhi has post the comparision chart， I move the Vietnam GDP chart from Heybrain：

GDP and per capita GDP of Vietnam from 1970~2014（“人均名义GDP”= Nominal per capita GDP, "美元“=”USD“）：

Credit to heybrain：

Does this person keep track of illegal Vietnamese in China? Chinese media rarely mention it anymore.

I am sure there are millions of illegal Vietnamese in China, yet nationalist Vietnamese would have you believe Chinese illegally want to live in Vietnam.

 

[Yizhi]

Thank you China for buying our Palm Oil and more Infrastructure funding.

i bought lots of 凤梨塔 Pineapple Jam Tart and 拉茶 Chai Tea too! both in Malaysia and online in mainland!

 

[sweetgrape]

Wow thanks a lot!

Seems like SEA (even without Singapore) is a whole new league vs South Asia.
- Only Cambodia is yet to improve, international aid is needed
- Vietnam and Lao moving close to $2,000, not bad, entering lower middle-income country list
- Philippines and Indonesia close/surpass $3,000, OK job
- Thailand closing in on $6,000, very good
- Malaysia surpassing $10,000, I think it is poised to become the 2nd developed country in ASEAN after Singapore.

@somsak @powastick

The SEA economic entity is fragile, from 1998 financial crisis, you can get that.
Indonesia has stay at 3000 Dollars per capita around for about 5 years,
Philippine is a loser country in my eyes.
Thailand economy develop slow too.
Malaysia's GDP per capita seems good, be a developed country? no, long way to go, even longer than China have.
Vietnam develop faster in SEA, but will face many challenges, I think it economy is very fragile.

Does this person keep track of illegal Vietnamese in China? Chinese media rarely mention it anymore.

I am sure there are millions of illegal Vietnamese in China, yet nationalist Vietnamese would have you believe Chinese illegally want to live in Vietnam.

Sorry, buddy, I don't know you means, the person you mention is the master of the website I introduced?!

 

[NiceGuy]

Our economy have lots of problem bcz we dont have good tech and we cant find a stable market for our products while China also reduce importing VN agricultural products due to SCS(east sea) tension.

But the TPP deal will take Vn back to the right track, we will have a stable market like JP-US to export our products while JP-US will transfer some good tech to help our products have better quality.

And we will see many countries in Pacific region that are not allowed to join the TPP facing wt economy collpase

 

[BoQ77]

I hear that the income of Vietnamese are very low, could you please share us something about it? The average income of Vietnamese in each industry?

Is a good motorbike a higher social status for you guys?

Income of Vietnamese actually not so low. Evidence ? House, apartment is the most valuable in each family, cost about 100,000 - 250,000USD in average, some higher, but most of people could afford including migrated family, pay by cash, 100% in advance.
The most interesting question even to Vietnamese : Where they get the money for the house / apartment in monitoring their salary ? If monthly salary = 300 USD, they need savings for 30 years to buy an apartment. But it's popular to see after 5-7 years of working they could have their own one.
Answer: recorded figure doesn't reflect the actual data, most of them are underground income.

So to answer you: 1. Nominal income of Vietnamese seem to be low
BUT 2. Actual income of Vietnamese could help them to buy an apartment 100,000$ after maximum 10 years.
And some could afford for a car, but a car in urban area is not a must have because they can't use car everyday in the urban area effortless ( because there're so many small lanes, lack of parking area, traffic jam... ). So there're good scooters for their need, brand Honda, Piaggio, Yamaha, ... cost about 2,000 USD - 7,500 USD each. 1 for wife, 1 for husband ... when the kids grown up, they would request scooters for going to college, university. That's why annually Honda, Piaggio, Yamaha sold millions scooters to Vietnamese.
They even built more factories in Vietnam for Vietnamese demand ( Honda has 3 plants, Piaggio, Yamaha also has Vietnam manufacturing plants ).
Piaggio created a large quantity of fan for Vespa LX or Liberty model or Honda with SH model just like what Apple did with Iphone

 

[Viet]

I hear that the income of Vietnamese are very low, could you please share us something about it? The average income of Vietnamese in each industry?

I can tell you from my relatives in vietnam:
- works in hotel service: $150 a month (female, beginner)
- employed in a bank: $400-$500 a month (female, many years of experience)
- runs a business (transport): more than $1,000 a month

Is a good motorbike a higher social status for you guys?

no, just for young boys that want to impress girls. higher social status is owning a big house or villa, expensive cars. most of vietnamese own a house. many of my relatives own many houses.

Under French rule, Vietnam had a better economy.

not true. the french just sucked up blood out of vietnam. the colonists did not want to have a developed industry. they built villas, churches and opera houses, and that is all.

 

[Edison Chen]

Income of Vietnamese actually not so low. Evidence ? House, apartment is the most valuable in each family, cost about 100,000 - 250,000USD in average, some higher, but most of people could afford including migrated family, pay by cash, 100% in advance.
The most interesting question even to Vietnamese : Where they get the money for the house / apartment in monitoring their salary ? If monthly salary = 300 USD, they need savings for 30 years to buy an apartment. But it's popular to see after 5-7 years of working they could have their own one.
Answer: recorded figure doesn't reflect the actual data, most of them are underground income.

So to answer you: 1. Nominal income of Vietnamese seem to be low
BUT 2. Actual income of Vietnamese could help them to buy an apartment 100,000$ after maximum 10 years.
And some could afford for a car, but a car in urban area is not a must have because they can't use car everyday in the urban area effortless ( because there're so many small lanes, lack of parking area, traffic jam... ). So there're good scooters for their need, brand Honda, Piaggio, Yamaha, ... cost about 2,000 USD - 7,500 USD each. 1 for wife, 1 for husband ... when the kids grown up, they would request scooters for going to college, university. That's why annually Honda, Piaggio, Yamaha sold millions scooters to Vietnamese.
They even built more factories in Vietnam for Vietnamese demand ( Honda has 3 plants, Piaggio, Yamaha also has Vietnam manufacturing plants ).
Piaggio created a large quantity of fan for Vespa LX or Liberty model or Honda with SH model just like what Apple did with Iphone

Your response has no logic, unlike Viets. What's the apartment price in downtown and rural Hanoi? And apartments?

 

[BoQ77]

Your response has no logic, unlike Viets. What's the apartment price in downtown and rural Hanoi? And apartments?

minimum 75,000 for apartment of Ecopark, 71sqm, 14 kilometer from center, actually it belongs to another province.
200,000 or more for uptown apartment
maybe my logic is what you don't want to understand.

 

[Edison Chen]

I can tell you from my relatives in vietnam:
- works in hotel service: $150 a month (female, beginner)
- employed in a bank: $400-$500 a month (female, many years of experience)
- runs a business (transport): more than $1,000 a month

no, just for young boys that want to impress girls. higher social status is owning a big house or villa, expensive cars. most of vietnamese own a house. many of my relatives own many houses.


not true. the french just sucked up blood out of vietnam. the colonists did not want to have a developed industry. they built villas, churches and opera houses, and that is all.

The salary is exactly the same as what I've heard from a friend who had been to Vietnam.

OK, most Vietnamese own houses? Are you serious? House is not apartment. I'm afraid you are lying. We define house as an independent building structure with many rooms, with garage or other affiliate facilities.

If I have a motorbike, can I "impress" girls? I like the word - impress

 

[Viet]

Your response has no logic, unlike Viets. What's the apartment price in downtown and rural Hanoi? And apartments?

saigon central, single attached house, appr. 200-300 m2, 3 levels, good shape: $200,000 to $300,000.