The economy of Vietnam
Vietnam – a country locates in South East Asia which has the area of 329,560 sq km. With the history spans over 4000 years, Vietnam’s identity has been shaped by long-running conflicts with foreign forces. The Socialist People’s Republic of Vietnam was founded in 1954 and unified in 1976 after the Vietnam War. Since 1986, Vietnam has embarked on the course of “Đổi mới” (Renovation Policy) – the comprehensive economic renovation which aims to eliminate the subsidy-based, bureaucratic, centrally-planned mechanism and develop a socialist-oriented multi-sector market economy. Over that period, the economy of Vietnam has experienced rapid growth. Twenty years of liberal economic reforms have brought sweeping changes and foreign investment to a nation characterized by increasing industrialization and a reduction in poverty. Nowadays, Vietnam is in the period of integrating into the world's economy, as a part of globalization. Vietnam became a full member of ASEAN on 28 July 1995, entered Asia-Pacific Economic Cooperation (APEC) in November 1998 and has participated ASEAN Free Trade Area (FTA). On November 11, 2007, Vietnam officially became the World Trade Organization’s 150th member after 11 years of preparation, including 8 years of negotiation. The intention of Vietnam in accessing to WTO was to provide an important boost to the country’s economy, to ensure the continuation of liberalizing reforms and create options for trade expansion. However, serious challenges also come after become a member of WTO, requiring Vietnam's economic sectors to open the door to increased foreign competition. At present, Vietnam has established diplomatic relationship with over 179 countries all over the world (The World & Vietnam Report – Ministry of Foreign Affairs). Although Vietnam’s economy, which continues to expand at an annual rate in excess of 7 percent, is one of the fastest growing in the world, the economy is growing from an extremely low base, reflecting the crippling effect of the Vietnam War (1954–75) and austerity measures introduced in its aftermath. Vietnam – Japan relations
Early contacts until 14th – 15th century
There was no historical record to recite exactly when the Japanese started trading with Viet Nam. Vietnamese historians only knew that Chinese merchants traded with the Viet a couple hundred years before the Japanese. According to an archaeological dig in Kyushu, a Vietnamese ceramic with the inscribed date of 1330 was revealed but it is unknown how the fragments arrived there. As time goes on, in the early 16th century, contact between Japan and Vietnam came in the form of trade. Because of the expansion in trading of Japan, many countries’ ports in South East Asia such as Siam (Thailand) and Malaysia were visited by the Japanese red seal ships. Vietnamese records show that there were already hundreds of Japanese traders residing in the area where Lord Nguyen Hoang opened the port of Hoi An in the early 17th century. They also established a Japanese district named Nihonmachi in Hoi An so as to handle the influx of traders. Vietnamese silk, sugar, spices and sandalwood were popular trading goods to Japanese silver, copper and bronze back in those days because of their huge profit when brought to Japan. The two countries enjoyed a warm degree of friendship. Leaders of both countries exchanged amicable letters and gifts with each other. Lord Nguyen Phuc Nguyen even married his daughter, Princess Ngoc Khoa to Araki Shutaro, an eminent Japanese trader. Japanese traders often donated money to the locals and were well treated. Many settled and assimilated into their new surroundings. However, trade restriction was place between South East Asia and Japan when Tokugawa became aware of the nation’s overexploited silver and copper in 1685. Modern times
Japan invaded Vietnam in September 22, 1940 and began constructing military bases to strike against the...