Vietnam’s Changing Economy Learning intention: To understand how and why the economy of Vietnam has changed and the results for the people who live there.

Summary Agriculture, especially rice growing, has been central to the economy. Agriculture: still employs 60% of population Rice: 90% of arable land (shrinking) ‘Doi Moi’ – 1986 – economic policy creating freer market (more capitalism) and land ownership Green Revolution – higher yielding rice and more effective farming techniques Shifting land and production now to other goods Sugar cane, fish, prawns, cotton, coffee, wheat, rubber, industrial use around cities By 2010 less than 25% of production from agriculture – ½ of what it was in 1980 Workforce is growing (1 million/year) and becoming more educated In cities: growth in textiles/garment industry (huge employment) and oil and gas, service sector Wealth showing, but unevenly spread; rich in North and South (delta and cities) poor in mountains Wealth growth driven by access to outside markets (like USA) and growing internal markets

Focus: ‘Doi Moi’ Translation: Renovation Part of Broader Movement for economic reform (renovations of the economy) in socialist countries around the world China – 1978 – translated to – ‘Reform and Opening Up’ USSR – 1980s – ‘Perestroika’ – Restructuring

Economic Systems Essentially: Capitalism = make money based on your own ability and output Socialism = redistribution of money through some government control over system Communism = equal distribution of money through total government control

Economic Systems Why would some people see a communist-socialist (state-run) economy as a positive? Why would some people see a communist-socialist (state-run) economy as a negative? Why would some people see a capitalist (free-market) economy as a positive? Why would some people see a capitalist (free-market) economy as a negative?

Agriculture - % of GDP What does this graph show us? What does that tell us about the development level of the country?

GDP Total - Yearly Growth Google: Gapminder World or go to link below: http://www.gapminder.org/world Select Time on the horizontal axis. Select GDP Total – Yearly Growth on the vertical axis. Select only Vietnam and then follow the numbers along. 1) Could you predict from the chart when ‘Doi Moi’ was instituted? 2) Select Russia and China and do the same. Could you tell roughly when their economic shift occurred?

Prep Text pg. 133-4: Environmental Conditions and take notes. Do questions 1 and 2 on pg. 134.