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Discuss the Effects of Globalization on Vietnam.

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Discuss the Effects of Globalization on Vietnam.

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Globalization is the system of interaction among the countries of the world in order to develop the global economy. Since 1986, Vietnam has been conducting a process of economic innovation. It has been steadily opening its economy to be able to integrate into the global marketplace more and more. During this time, Vietnam has greatly changed. This essay will discuss the effects of globalization on Vietnam with 2 forces: Economic and sociocultural. Firstly, the development of Vietnamese economic has changed rapidly. Until 1986, Viet Nam had operated as a centrally planned economy with significant inputs of aid from the Soviet Union. Viet Nam was closed to FDI until the adoption of ‘doi moi’ (renewal). In 1987, the first foreign investment law was passed. Since then, the FDI legislation has been revised four times - in 1990, 1992, 1996 and 2000. The increased integration of the Vietnamese economy into the world economy during the 1990s has been accompanied by rapid economic growth and a reduction in poverty. The globalization has affected the countries in the Mekong Sub-region in different ways, Vietnam just very recently have started to open up the economy, and changed the tourism policy - both aspects that affect trafficking a great deal. In 2007, Vietnam joined in the World Trade Organization (WTO). This leads us to believe in that Vietnam is inclined to increasingly participate in this “flat world”.

Secondly, this is clarifying the impact of globalization on Vietnam’s sociocultural in general and religious life in particular. Vietnam is located in the meeting place of East and West and by the side of two great civilizations of India and China. Therefore, nowadays, Vietnam has to withstand the considerable impact of globalization in every aspect of society, including the religious life. Although the biggest religion in Vietnam is Buddhism, there are 2 more big religions more such as: Confucianism and Taoism. In each Vietnamese person, there is rationality...

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