Dương Thị Bảo Ngọc
K184040532
In 500 words, discuss the impacts of globalization on Vietnam’s socio-economic
development. Use at least 5 sources in your text.
Globalization has a powerful impact on many countries recently and becomes an
expanding trend all over the world. Based on the knowledge economy, the globalization
effects directly to Vietnam's socio-economic development.
First of all, globalization creates a fundamental change in human economic activities,
change the nature and position of the market from national to international. Vietnam has
started to open and integrate into the regional and world economy since 1986. Thanks to the
policy of renovation and integration, in nearly 20 years, Vietnam has reached a high growth
rate in the region, which is one of the astonishing achievements (Toan cau hoa va su tac
dong cua no doi voi Viet Nam hien nay, 2006) However, since 1994, many economists and
leaders of Vietnam have discussed the risk of a step-back in economics. Some drastic changes
in cordination were made when Vietnam carried out the open-door policy to boost
international integration, developed a multi-sector economy and attracted foreign investment.
The financial disparity between the rich and the poor, the gap in incomes and living standards
are increasing between rural and urban areas, plain and mountainous areas, between interior
workforces and foreign one. (Impacts of globalisation in Vietnam, 2006)
Second, by being a member of many economic – politics organizations in region and
over the world, that foreign policy was specified strongly. Thanks to international
cooperation, Vietnamese people gradually form up lots of progressive thoughts and
perspectives. On the other hand, globalization is posing a lot of social challenges for this
country. Whereas Vietnam has been integrating, the economy becomes more dynamic. The
competition of the same economic sector has increased the number of unemployee or under-
employee. Not only the unemployment rate in urban areas is quite high, but the shortage of
jobs in rural areas is still very serious as well. (The impact of globalization in Vietnam, New
York Essay, 2017) The needs of the globalization have brought tremendous changes in
people's working habits and lifestyles in all nations at both postive and negative side. The
rising of bohemian lifestyles among Vietnamese youngster will dominate the valuable
traditional customs gradually. These impacts bring on pros and cons. Integration creates
competitive and open market, Vietnam can decreased time and distance barriers, make use of
high technical resources applied in advanced industrialized economies. (National Academy of
Engineering, National interests in an age of global technology, Chap 2. Opportunities and
challenges of globalization, 1991) Cutural integration will be a crucial point to develop
service industries. Therefore, one of the directions of economics policies is “integration
without assimilation”. ( Huong, Culture is key to Hanoi tourism promotion, Vietnam
Economics news, 2018) Advertising the traditional products and cultural elites will play an
important role in promoting bussinesses.
It is undeniable that globalisation is a worldwide tendency. Not only Vietnam but also
some developing countries have been making a mircle economic growth rate despite the
issues it brought.
REFERENCES
1991, Opportunities And Challenges Of Globalization, National Interests in an Age of Global Technology
( pp.45-53). Retrieved from
[Link]
Discuss the Effects of Globalization on Vietnam.. (2017, May 25). Retrieved April 23, 2019. Retrieved from
[Link]
vietnam/
The Voice of Vietnam ( 2006, June 6 ). Impacts of globalisation in Vietnam. The Voice of Vietnam.
Retrived from
[Link]
[Link]
Huong,V.,2018. Vietnam Economic News. Culture is key to Hanoi tourism promotion
[Link]
Duc, P.V., (2006, March), Institute of Philosophy. Toan cau hoa va su tac dong cua no den Vietnam hien nay.
Retrieved from
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hoi/[Link]
