World Bank: Vietnam Must Reform to Continue Economic Growth

This paraphrase of a World Bank officials pronouncement about the future of Vietnam’s economy should win some form of award for understatement,

The bank’s vice president for East Asia and the Pacific, Jemal-ud-din Kassum, says without a modern legal and public administration system in place, Vietnam’s transition to a market economy will run into trouble.

No kidding. And here I thought it was capitalism and globalism that was causing all of the problems in the developing world.

Source:

World Bank warns of hurdles to economic growth in Vietnam. Radio Australia, July 15, 2003.

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