Michel Chossudovsky on Vietnam (was Re: 5th columnist)

Brad De Long delong at econ.Berkeley.EDU
Thu Apr 6 07:46:43 PDT 2000

>On Thu, 6 Apr 2000, Yoshie Furuhashi crossposted:
>> Michel Chossudovsky (another of Ken Hanly's favorite Canadians) writes in
>> _The Globalization of Poverty: Impacts of IMF and World Bank Reforms_
>> (London: Zed Books, 1997):
>> The Vietnamese CP's embrace of neoliberalism & the world market has been a
>> disaster. Countries like Vietnam can never hope to prosper economically
>> under capitalism.
>Vietnam has been growing at 8-9% a year for almost a decade now, and a
>sizeable developmental state still controls capital markets and key
>industries; the surplus-rents from Vietnam's oil company, for example,
>flow into state coffers, not a Russian-style Mafia (oil revenues make up
>something like a fifth of the Government budget, I think). Industrial
>growth seems to be growing 10-12% a year, despite a slowdown caused by the
>SE Asian mini-crash of 1997-98. Japanese and EU aid seems to have helped
>some, too (the EU has allowed more agricultural imports, e.g.). Instead of
>counting neocolonial chickens, the global Left ought to be helping
>embryonic dragons to hatch.
>-- Dennis

But if elite social being determines elite consciousness, you're not going to like what comes out of the egg (and neither am I)...

Brad DeLong

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