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Vietnam’s progress toward a more liberal, market-friendly economy has proceeded in fits and starts.
February 11, 2021
In this April 29, 2015, file photo, a snack and fruit vendor waits for customers near the advertisement board of a shopping mall and apartment building in Ho Chi Minh City, Vietnam.
Credit: AP Photo/Dita Alangkara, File
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Vietnam has weathered the COVID-19 crisis better than most nations. The spread of the virus has been managed well, and despite turmoil in global markets the economy grew by around 3 percent in 2020, while running a $19 billion trade surplus. Investment inflows have likewise remained strong, leaving the country well-positioned for a post-pandemic recovery. How is it that Vietnam has fared so well?