ABSTRACT
In the early 1980s few would have held out much hope for the Vietnamese economy, which had a modest to poor growth record and regular food shortages. The country seemed dependent on the Soviet aid it received, with little hope for development fuelled from domestic resources. By the late 1990s the picture had changed almost beyond recognition. Growth reached respectable levels in the late 1980s and was 8 to 9 per cent for most of the 1990s (Figure 10.1). Hyper-inflation in the mid-1980s was brought under control, and the threatened resurgence of inflation in 1989–90 quickly quelled with a stabilisation programme which took effect at the same time as growth was reaching new highs.
