Vietnam
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HISTORY
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Vietnam Today
After the Vietnam War, which ended in 1975 with the fall of Saigon, Vietnam was reunified under communist rule, marking the beginning of a new era. The Socialist Republic of Vietnam was established, with Hanoi as its capital, and the country faced immense challenges in rebuilding its economy and infrastructure, devastated by decades of conflict. Initially, Vietnam pursued a centrally planned economy, which resulted in significant economic difficulties, including food shortages, poverty, and stagnation. In 1986, Vietnam launched a series of economic reforms known as "Đổi Mới," transitioning towards a market-oriented economy while maintaining its socialist governance. These reforms spurred rapid economic growth, opened Vietnam to international trade and investment, and gradually improved living standards. Despite lingering effects of the war, including unexploded ordnance and environmental damage, Vietnam has become one of Southeast Asia's fastest-growing economies, balancing its socialist political system with a more open market economy.
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PAVN Today
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