We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Economic Performance of Vietnam

essay
The whole doc is available only for registered users

A limited time offer! Get a custom sample essay written according to your requirements urgent 3h delivery guaranteed

Order Now

Question: to what extent does the Sachs and Gallup analysis (1998) explain the economic performance of Vietnam?

According to the Sachs and Gallup survey (1998), the economic performance is heavily affected by three factors. The three mentioned factors are location in the northern hemisphere, a temperate climate and access to a seaport. In this essay, I will examine the economic performance of Vietnam in which related to Sachs and Gallup theory, then analyze the other possible contributory factors. Finally, I’ll sum up the ideas of this essay.

First of all, to define the economic performance of Vietnam, I will use GDP or gross domestic product as a basic to evaluate its effectiveness. According to a research of World Bank (2012), Vietnam was ranked 42nd over 178 countries with GDP (PPP) of $320.879 billion. Meanwhile, according to IMF (2012), Vietnam was ranked 51st over 178 with nominal GDP of $141.463 billion. These statistics already show a briefly look about the economic performance of Vietnam, in which can tell that, Vietnam still has a long way to achieve its ambition of becoming a strongly developed country. However, its accomplishment is remarkable.

Back to the Sachs and Gallup theory, Vietnam meets two over three criteria for economic success given by the research. Firstly, Vietnam is located in the northern hemisphere. Secondly, with a long coastline of 3,260 km with many important seaports in the SEA area, it is undoubtedly fits to Sachs and Gallup survey. However, because of the location near the Equator, Vietnam has tropical climate with temperature ranges from 5 to 37oC and annual rainfall is substantial in all regions and torrential in some, ranging from 1,200 to 3,000 millimeter per year. For this criteria, Vietnam does not meet the final pattern of the survey.

Nevertheless, there are other possible contributory factors that affect Vietnam economic performance. On the one hand, Vietnam has many valuable natural resources such as coal, offshore oil, bauxite, gold etc. Another advantage to mention is that, with over 90 million people in population and the labour force is approximate 50 million people, Vietnam has a huge labour market to contribute to the economic.

On the other hand, lacking of infrastructure and being suffered from natural hazards such as occasional typhoons with extensive flooding are some main obstacles to the advance of Vietnam economic performance. Last but not least, although having a huge labour market, majority of Vietnamese workers are still being considered as low quality. This problem has became a burden to the economic performance so far.

In conclusion, according to Sachs and Gallup survey (1998), Vietnam fits two over three of the criteria in the research. However, there are many other factors that can be considered to affect the economic performance of Vietnam such as natural resources, labour market, labour skills and level of infrastructure.

Related Topics

We can write a custom essay

According to Your Specific Requirements

Order an essay
icon
300+
Materials Daily
icon
100,000+ Subjects
2000+ Topics
icon
Free Plagiarism
Checker
icon
All Materials
are Cataloged Well

Sorry, but copying text is forbidden on this website. If you need this or any other sample, we can send it to you via email.

By clicking "SEND", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
Sorry, but only registered users have full access

How about getting this access
immediately?

Your Answer Is Very Helpful For Us
Thank You A Lot!

logo

Emma Taylor

online

Hi there!
Would you like to get such a paper?
How about getting a customized one?

Can't find What you were Looking for?

Get access to our huge, continuously updated knowledge base

The next update will be in:
14 : 59 : 59