THE SOCIALIST-ORIENTED MARKET ECONOMY IN VIETNAM: THEORY AND PRACTICE

Tóm tắt

    Market economy is a realistic economic mechanism that has been firmly established throughout the world's economic history. Although not a perfect mechanism, so far, market economy has proved to be the best mechanism for resource allocation and development. A country that adopts a market-based economy for development may not be successful, but one that does not adopt it will certainly fail in the long run. Strictly speaking, for modern development, development means the creation, development and perfection of a modern market economy. The choice between the market or non-market economy is obvious - the market-based economy has indisputable and outstanding advantages. Different growth models, different success or failure stories, are linked to a nation's rightful, efficient and appropriate approach, depending on each nation's conditions and each specific period, in tackling the relationship between the market and the state - two methodologies for resource allocation which can complement each other but can also cancel each other's efficiency out. What happened before and after the Doi Moi (Renovation) period in Vietnam showed that: fostering a market economy and global integration (an element of globalization in the modern market economy) is a choice which cannot be avoided by Vietnam.