Vietnam needs to take advantage of the chance to enter the World Trade Organization to accelerate its economic reforms, the U.S. State Department's No. 2 figure said May 6 during his visit to Vietnam. WTO accession will give a boost to Vietnam's economic reforms as it helps facilitate investment and business, U.S. Deputy Secretary of State Robert Zoellick told a news conference in Hanoi. Deputy Prime Minister Vu Khoan (L) and U.S. Deputy Secretary of State Robert Zoellick. … [Read more...] about WTO entry will boost Vietnam’s economic reforms; U.S. official
China economic reforms
China economic picture remains cloudy as Sept export fall eases, imports slump
A container box is loaded on to a truck at a port in Rizhao, Shandong province, August 12, 2015. Photo: Reuters/Stringer China's exports fell less than expected in September, with monthly figures showing recovery, but a sharper fall in imports left economists divided over whether the country's ailing trade sector is showing signs of turning around. On the surface, the trade data on Tuesday reinforced views that the world's second-largest economy is still slowly losing momentum, putting more pressure on Beijing to roll out further stimulus measures and keeping global markets on edge. But the numbers did not suggest a greater risk of a hard landing, either, as some investors have feared. Exports fell 3.7 percent from the same period last year, less than a 6.3 percent drop forecast by economists in a Reuters poll and moderating from a 5.5 percent decline in August. However, imports by value tumbled for the 11th straight month, losing over 20 percent year-on-year in September due to … [Read more...] about China economic picture remains cloudy as Sept export fall eases, imports slump
Scenarios suggested for Vietnam-China economic relations
Hong Phuc The research conducted by Vietnam Report Joint Stock Company and experts in the field gave three scenarios with different levels from bad to good. In the first scenario, China will take economic retaliation against Vietnam in case tensions in the East Sea escalate, while in the second scenario, Vietnam-China economic relations will change from cooperating and fighting to fighting and cooperating. The mildest one is that the East Sea tensions do not sour economic relations. "With China's ambitions, strengths and hard-line statements released by its leaders regardless of public opinions, it is highly unlikely that China will retreat from Vietnam's exclusive economic zone and continental shelf in the East Sea. Thus Vietnam needs to accept the fact that it will have to develop the economy in an unfavorable environment due to instability concerns," the report says. … [Read more...] about Scenarios suggested for Vietnam-China economic relations
Cuu Long Delta’s development depends on economic reforms
Cuu Long Delta's development depends on economic reforms (21-11-2005) Dr. Vo Hung Dung, director of the Viet Nam Chamber of Commerce and Industry branch in Can Tho, spoke with Tuoi tre Chu nhat (Sunday Youth) newspaper about factors hindering the development of the Cuu Long Delta. The Cuu Long Delta is well-known as the rice bowl of Viet Nam. What other advantages does the region have? Apart from agriculture and an important geographical position, the Delta has no other significant advantages. The Delta's GDP is ranked third in the country after the south-eastern region and the Hong (Red) River Delta. According to our research, the Cuu Long Delta's propotion in Viet Nam's GDP has gradually decreased. According to the Ministry of Planning and Investment, the proportion of GDP contributed by the Cuu Long (Mekong) Delta accounted for 23 per cent until the year 1993. This number dropped to 18.4 per cent and 17.2 per cent in 1996 and 2000, respectively. In recent estimations, the Delta's … [Read more...] about Cuu Long Delta’s development depends on economic reforms
China’s Hu promises economic reforms, higher incomes
China will reform to make its currency and interest rates more market-based, boost overseas investments and plough more state funds into industry as part of plans to keep GDP on track to double in size by 2020, President Hu Jintao said on Thursday. China's outgoing President Hu Jintao walks past China's Vice President Xi Jinping to deliver his speech at the beginning of the opening ceremony of 18th National Congress of the Communist Party of China at the Great Hall of the People in Beijing, November 8, 2012. Photo: Reuters … [Read more...] about China’s Hu promises economic reforms, higher incomes