[Vnbiz] Vietnam's position on economic issues

Tue Jun 10 11:30:52 PDT 2008

Hao:

Frankly, I do not have a clue and suspect that those in the SBV to have
access to information, that know one else has, that drives their policy
choices. I believe that the government has said what they wanted to do, not
sure that the chosen limitations of infrastructure spending went far enough
(less than 10% cut, not enough, but hard to accomplish more, and keep
everyone happy, I suspect).  Then, they are asking the people to increase
their savings, reduce their consumption, obviously by increasing rates,
frankly I am sure the SBV is doing the best job that they know how.

Not sure how long the government can go on subsidizing the items they do;
take oil, am sure that that helps everyone, am sure it unduly benefits the
wealthy who drive cars, and is partly responsible for 162% growth in
automobile imports recently announced.  A very costly subsidy to the rich.

The job of governance is particularly difficult, the Vietnamese people
should stand together, remain calm and weather this storm, not because big
bad foreigners are out there to get them (as is too often insinuated on this
forum, your problems are your own, only made more difficult than elsewhere
in the developing world because of policy choices previously made, be
honest).  The Vietnamese people do not need foreign bogeyman, nothing more
is required for the unity of the people then the collective challenges that
they currently face.

I suspect, like everywhere, there to be many competing interest groups
involved in governance of the country, each group fights for their pet
projects, their bread and butter, fights that their support is not cut.

Further, as I understand it, the way in which the nation organizes, and
makes decisions...that lengthy process exacerbates quick, fair, and
necessary decision-making in times of trouble, do to its reliance on
consensus which extends through many hands to the local level.

This is especially evident in how public works spending is decided, agreed
upon.

It is said that that process causes much inefficiency and waste, building
ten projects when one is needed, I believe some describe it.  How to change
that, it seems a big piece of the puzzle needed to be solved to get Vietnam
to the universal prosperity (not material wealth, mind you, as I don't
believe in its efficacy) that its people rightfully deserve, all of its
people deserve, none more than any other.

My sincerest hope, is that the people, all people, keep a cool head, and
rise above their naked self-interest.  I hope those with abundance are
patriotic enough to be willing to sacrifice some of their wealth, position
and interest to do what is best for the nation.  That is my hope, regardless
your nation will get through this.

If it makes kids focus more on the future, then on what they are wearing, at
least those who can make such choices, then I suspect your nation will be
better off for it.

All this I hope in my nation as well, in my world, which is why I am more
welcoming and hopeful for suffering, in my nation, than some in other
social-political-philosophical quarters.

I do not believe that all is lost, for our feeble humanity, I am quite sure
that there are enough with common sense to pull it all together.

Am sure that Vietnam will be alright.

Despite what others may believe, there is more to life than coins jingling
in our pockets, there are the thoughts and feelings of our friends and, yes,
even, strangers on the street.

There is the love in our hearts and the real wealth, the real power and
strength that one gains from helping others in need.

You can do it, Vietnam will do it, not to become a great nation, what a dumb
goal for any nation,
to be a nation peopled by great, caring, righteous, compassionate, loving,
and understanding people, ......that is a goal worth fighting for, worth
suffering for, worth working for.  The only goal that would eventuate in a
"great" nation

Otherwise, you can have all the gold in the world, and be the poorest,
saddest soul that I have ever met and live in the poorest saddest nation in
the world.  Poor, perhaps not in material wealth, but poor for the few
minutes that you are able to live on this earth, poor for what you would
leave your children.  Better to live proud, strong, and free, free of these
material chains that bind.  And I am afraid that it is an excessive love of
the material, especially among some groups, that has led to these problems
that we find today.  Although, using corn for ethanol is a much more
convenient excuse.

In the meantime there will be some more pain, hopefully it leads to more
focus and better choices for All,
from the bottom up and the top down.

Craig

On Tue, Jun 10, 2008 at 12:57 PM, Quach Manh Hao <quachhao at gmail.com> wrote:

> [ Vietnam Business Forum ]
>
>
> Dear anh Hoanh, Craig and friends,
>
> After all what have been seen, what should be done?
> Cheers,
> Hao
> On Tue, Jun 10, 2008 at 12:34 PM, Tran Dinh Hoanh <tdhoanh at gmail.com>
> wrote:
>
>> [ Vietnam Business Forum ]
>>
>>
>> Dear and Craig & CACC,
>>
>> Of course "dollar trading has frozen" at the official rate.  No one trades
>> at that rate in the market (unless some foreign tourist sell his USD at a
>> gold shop at the official rate, because he has no idead on what else he can
>> do).
>>
>> But rest assured, brother, the dollar trade is alive and well.  At the
>> "free market" rate, mind you.  (Note: "Free market rate" now would be more
>> accurately called "black market rate").  However, since the market trade is
>> no longer "free" and has become "black," you can't see it, Craig.  You're
>> not in the loop.  But if you give 100 USD to any Vietnamese friend and ask
>> him to sell it for you at the market price, he would be able to do it for
>> you.  Even if he is not in the loop, he may know a friend who may know a
>> friend who is in the market loop.  Please keep in mind, the entire trade was
>> fully open and free several days ago. It can't disappear that fast.  It just
>> goes underground temporarily, until the SBV turns a blind eye and allows it
>> to become "free" again.
>>
>> I'm still digesting your info on food price.
>>
>> Have a great day!
>>
>> Hoanh
>>
>>
>>
>> --
>> Tran Dinh Hoanh, Esq., LLB, JD
>> Washington DC
>>
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