Viet Nam : The Unseen Economic Tiger
"All is fair in Love and Money"
After twelve years of negotiations and the opening of formal US Vietnam relations by the Clinton administration, the WTO has ratified Vietnam's addition to their 'trading club'.
This is great, great news for the Vietnamese - they've stoically got on with it over the last 30 years, somewhat forgotten by the rest of the world - except for old allies and neighbours.
Since I've been travelling to Vietnam, it's changed from majestic bicycles and lights out at 10pm, to revving Honda's, Lexus's and late night clubbing. It's lost that romantic 'old asia' feel and carved out it's own style of Asian Dragon economy. The Vietnamese government has had the luxury of seeing the good and bad of Thailand, Korea and Taiwan's rapid growth in the late 90's.
My guess is that the western world will rediscover Vietnam over the next three years; the most varied and delicious food I've ever had, fine crafts and french impressionist-style original art. Oh, and rich, thick strong coffee. Plus some of the best entrepreneurs around.
I'll leave the serious side to the reports below.
Terms Approved for Vietnam’s Admission to W.T.O.
Vietnam commits to open markets, economic reform
Vietnam gets OK to join World Trade Organization
Vietnam’s Roaring Economy Is Set for World Stage