Vietnam and U.S. Economic Relations
Vietnam's economy stagnated for 10 years after the war ended in 1975. In 1986, the Sixth Party Congress approved a broad economic reform package called 'Doi Moi' or renovation that was geared to dramatically alter and improve Vietnam's business climate, both at home and abroad.
Vietnam became one of the fastest-growing economies in the world, averaging around 8% annual GDP growth from 1990 to 1997." (Bureau of Public Affairs)
Vietnam's inflation rate stood at an annual rate of more than 300% in 1987 and fell below 4% in 1997. Investments and domestic savings grew and agricultural production doubled which led to the country being the second largest exporter of rice in the world.
Throughout the 1990s, Vietnam began to recognize that global economic interdependence was key to growth and stability. The country stepped up its efforts to attract foreign capital from the West and normalize relations with the world financial system. In the mid-1990s, the United States lifted the veto on multilateral loans to Vietnam. Vietnam in turn, became a member of the World Bank, the International Monetary Fund and the Asian Development Bank.
Virginia Foote, president of the U.S.-Vietnam Trade Council which represents American companies trying to do business in Vietnam, spoke about the state of relations between the U.S. And Vietnam in 1997. At that time, Foote said American businesses were "looking for economic normalization and the support system of the U.S. government on full trade relations." (May 15, 1997) American companies had excellent reputations in Vietnam and the Vietnamese were looking to American management skills, capital and technology in order to bolster their own economic viability. The economic system the Vietnamese government had been following from 1975 to 1985 did not work. The country was not developing technologically and it was not getting richer. Production in the state-run manufacturing sector was down.
In the new process of doi moi, the economic reform policy was structured to build a free market society piece by piece. "The development of a private sector in Vietnam will be important for American companies. There are still restrictions on who can trade and how to invest. There is the problem of bureaucracy, which is very much there. But there's also the problem that they're in transition... Every country has made this transition in quite different ways and they are still seeking out what models, what transitions, and in what order should they and how they should proceed." (Foote 1997)
On July 11, 1995, President Bill Clinton announced the formal normalization of diplomatic relations with Vietnam, after 20 years of severed ties. This announcement came after several years of steady diplomatic talks between the two countries. In July 1993, the U.S. dropped its objections to bilateral and multilateral lending to Vietnam. Seven months later, Clinton removed the trade embargo on Vietnam.
By 1997, the United States was committed to full normalization of diplomatic, political and economic relations with Vietnam. Then Secretary of State Madeleine Albright visited Ho Chi Minh City and told business and political leaders that she was "encouraged by commitments from Vietnamese officials concerning the progress of the refugee resettlement program." (June 28, 1997)
The refugee resettlement program stemmed from the mass exodus of Vietnamese peoples due to the stagnant economy and the growing tensions between Cambodia, China and Vietnam. To offset the poor economic conditions in Vietnam, the Sixth Party Congress approved a new state constitution in April 1992 that reaffirmed the central role of the Communist Party in politics and society. The constitution also outlined government reorganization and increased economic freedom throughout the country. Economic development became the primary focus of the government.
Vietnam War veterans, Senator John McCain and U.S. Ambassador to Vietnam Douglas "Pete" Peterson led the efforts to reestablish normal relations between Washington and Hanoi. After the two countries signed their first trade agreement in 1995, American businesses flooded into Vietnam, opening offices in anticipation that the country would become the next "Asian tiger. Investors found a highly educated populace...
McKinley, according to Herring (2008) was the first "modern commander." He worked to advance America's status as a power, using the war to advance America. His goals consisted of eliminating Spain from the Western Hemisphere, keeping rebel forces in Cuba and the Philippines at arm's length to ensure "maximum U.S. control and freedom of choice." Until the war finished, he said: "We must keep all we get; when the war
The events leading to the Vietnam conflict were determined by the administration in place at that time (VIETNAM CONFLICT (http://en.wikipedia.org/wiki/Vietnam_War). Initially it was decided that Vietnam would be occupied by Chinese and British troops and that they would supervise the surrender of Japan. In 1960 Hanoi instructed the southern communists to establish an organization called the national liberation front. The purpose of this organization was to overthrow the government of the
The research, methods will seek to establish a common basement of the U.S. President Foreign Policy Decision Making Process. Equitable regard will be accorded to the state of affairs that exist between the U.S.A. And Iran Questionnaires Questionnaires are samples of structured questions that will seek directive responses from the respondents in the field of study. In order to arrive at making decisions, there are several considerations that the president of
S. officials and other entities were very well informed), but rather on indecisiveness and incapacity to react with direct, concrete means in these situations. 5. The major issues of American foreign policy during the 1950s were generally circumscribed to the Cold War between the U.S. And the Soviet Union and the relations between these two countries, ranging form mutual containment to escalation (towards the end of the decade). The first issue emerging
The truth is that the forefathers were actually quite surprised at the effect that the signing of the Constitution had created in America; at the democratic society and government that resulted after the ratification of the Constitution. The ratification in itself was a long one, and it involved in essence the perusal of the written Constitution by each state for ratification purposes, for which each state was required to create
In 1953, Congress amended the National Security Act to provide for the appointment of a Deputy Director of the CIA by the President with Senate's advice and consent. Commissioned officers of the armed forces, active or retired, could not occupy the top two positions at the same time (CIA). Intelligence Reform Needed Countless reorganizations of the intelligence community since the end of the Cold War have not produced satisfactory results (Harris
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now