With Vietnam's economic advance comes stark income inequality

[Rechoice]

black money

This is gold, no cash money. Vietnamese don't trust on paper money.

 

[NarThoD]

By providing cheap house with long-term payment or providing cheap Flats could reduce homeless rate so no families would live in cramped and small house . It saves money and space.

here's an example in Jakarta

 

[hans]

we create wealth inside China
So we don`t need to go abroad for money..
Now there are many Vietnamese worker in China.
They are welcomed for lower salary

LOL of course, you are right. not every vietnamese owns a house or appartment. more correctly, many if not all family members live in their own house, rarely in a rental house.

So you think we thank chinese for the better life of life? it is far from the truth. many things factor in. one of them is the money of the overseas vietnamese: we send home $13 billion last year. $90 in the last 10 years.

 

[Viet]

we create wealth inside China
So we don`t need to go abroad for money..
Now there are many Vietnamese worker in China.
They are welcomed for lower salary

china is in a better economic shape. your growth rate is higher. our economy does not create enough jobs for all.

 

[hans]

China has a bigger population and market.
So even outside demand decrease, huge internal demand can still support economy and employment..
For Vietnam, I think it still need to improve the facility, power supply, transportation..
If Vietnam can do it, at least economy will increase a lot.

china is in a better economic shape. your growth rate is higher. our economy does not create enough jobs for all.

 

[Rechoice]

we create wealth inside China
So we don`t need to go abroad for money..
Now there are many Vietnamese worker in China.
They are welcomed for lower salary

This H'mong people were cheated to have work in China. He escaped from China, but he lost the way to come home and he went to Pakistant.

Vo mon mat cho nguoi chong luu lac tu Meo Vac sang Pakistan

 

[Viet]

China has a bigger population and market.
So even outside demand decrease, huge internal demand can still support economy and employment..
For Vietnam, I think it still need to improve the facility, power supply, transportation..
If Vietnam can do it, at least economy will increase a lot.

we need more money for infrastructure investment. that is the core issue. where to get the money?

at present the money comes from the state budget, ODA, loans from the capital market, international banks such as world bank and asian development bank. but that is not enough to cater our demands. little hope to get money from new chinese proposed banks and projects.

 

[Shotgunner51]

Thanks !!! Actually, Vietnam is still a poor country, is nobody comparing to other richer neighbors.

You're welcome, these are hard facts. No Vietnam is not poor, it's already lower middle-income country by World Bank standard since 2011, and current per capita GDP (current US$) standing near $2,000. With a cheap labor cost, good work ethnics, no severe social inequality (low poverty, low GINI index), healthy physique (low malnutrition, fair life expectancy), proper education/IQ (I have provided some reference data), VN work-force does possess an advantage especially in labor-intensive manufacturing or light industry.

Though it will take some time and efforts for Vietnam to move up the value-chain ladder, however some good trends are happening. Take shipbuilding in Philippines as an example, see the chart:

Philippines ranked world No. 4 in this heavy industry, surpassing EU (@Cossack25A1). How?

HHIC Phil (Hanjin Heavy Industries Corporation Philippines; 韩进重工) was established in February 2006, in Redondo Peninsula - on the northern edge of Subic Bay (the USN 7th fleet was once based here), with two largest drydocks in the world.

Similar trend is picking up in Vietnam as well. The Hyundai-Vinashin Shipyard Co. Ltd (现代重工) built the first vessel, a 56,000 ton DWT bulk carrier in 2008, and since then the momentum is picking up, targeting the build 20 bulk carriers per annum.

I am optimistic about the current development of light industry in Vietnam, and also heavy industry in the long run.

 

[BoQ77]

black money

not via bank, unable to record

 

[Jlaw]

By providing cheap house with long-term payment or providing cheap Flats could reduce homeless rate so no families would live in cramped and small house . It saves money and space.

here's an example in Jakarta

View attachment 198749

Some Europeans countries had a 70 year mortgage.

 

[xunzi]

LOL of course, you are right. not every vietnamese owns a house or appartment. more correctly, many if not all family members live in their own house, rarely in a rental house.

So you think we thank chinese for the better life of life? cheap commodities? it is far from the truth. many things factor in. one of them is the money of the overseas vietnamese: we sent home $13 billion last year. $90b in the last 10 years. this figure is from the government, just the money transfered by official channel such as banks. not counted in is the money transfered inofficially. the government assumes the overseas vietnamese send home totally $20b a year.

No amount of money can afford you low-price commodities. It is the same reason African life had improve dramatically with the emergent of China.

 

[dichoi]

No amount of money can afford you low-price commodities. It is the same reason African life had improve dramatically with the emergent of China.

you try take more resources from Africa, yes .

 

[BoQ77]

This is gold, no cash money. Vietnamese don't trust on paper money.

Until recently, Vietnamese used to transact real estates by physical Gold.

 

[xunzi]

you try take more resources from Africa, yes .

.... at market price. Low interest rate loan in which later on we completely erase their debt. There is undeniable fact that Africa live are better now with our involvement in Africa. This is a testament to the positive we brought to them.

 

[dichoi]

Until recently, Vietnamese used to transact real estates by physical Gold.

My papa bought a house for me, he paid at sight 250 pierce of Gold (nearly 9 kg).