Forty years ago today the last American military personnel left Saigon and the way was cleared for the North Vietnamese to takeover South Vietnam. April 30th has become a national holiday in Vietnam known as Reunification Day.
The communist takeover was followed by a series of economic failures and in 1986 Vietnam adopted a free market brand of socialism. It has worked well. Today Saigon is booming, and Vietnam has gone from having one of the worst performing Asian economies to one of the fastest growing.
Today there is both a McDonald's and a KFC in Hanoi. Wonder what Ho Chi Minh and LBJ would make of that?
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Forty years ago today, on April 30, 1975, helicopters carried away the last Americans in Saigon as North Vietnamese troops entered the city. What followed showed that the war had changed the United States as much as it had changed South Vietnam. News story |
The communist takeover was followed by a series of economic failures and in 1986 Vietnam adopted a free market brand of socialism. It has worked well. Today Saigon is booming, and Vietnam has gone from having one of the worst performing Asian economies to one of the fastest growing.
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The new socialist market economy has enabled Vietnam to make progress in overcoming its most urgent problem – hunger and poverty. Using international criteria for the general definition of poverty (covering food and other basic needs), 70 percent of the population in 1990 lived in poverty; of this number, 90 percent were in rural areas. By the year 2000, the number of people below the general poverty line was reduced to 32 percent. Link |
Today there is both a McDonald's and a KFC in Hanoi. Wonder what Ho Chi Minh and LBJ would make of that?
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