Vietnam must ditch state-sponsored crony capitalism

May 15, 2013 8:03 pm

By David Pilling

For a country in its demographic sweetspot, the economy is not growing fast enough

The country has just emerged from a scandal that exposed virulent corruption at the heart of the Communist party. There is a pressing need to reform state-owned enterprises – behemoths of inefficiency, patronage and powerful vested interests. The internet is awash with stories about arbitrary land grabs, prisoners of conscience and the antics of the party’s privileged offspring.

It sounds like China, but this is Vietnam, another one-party state where the economic and social aspirations of the people are bumping up noisily against a rigid and flawed political system.

Read more: http://www.ft.com/cms/s/0/e12e2fe6-bcb1-11e2-b344-00144feab7de.html


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