ABSTRACT
This chapter examines the history of commerce in the Red River Delta of northern Vietnam. It looks at the cultural factors that have supported or obstructed economic development, such as the stigmatization of commerce. The chapter attempts to place these cultural factors in their sociopolitical context, particularly as regards the regressive economic policies promulgated by successive governments. To the contrary, elements of Vietnamese culture, such as the acceptability of wealth creation for family advancement, are conducive to the accumulation of capital and economic growth. The chapter focuses on the process by which particular cultural values and pursuits have been selectively valorized or stigmatized, the linkage between these values and their sociopolitical context, and their consequences for economic life. Cultural values have played an important role in Vietnam's economic history, but their consequences can be accurately understood only with reference to the context in which they were transmitted and transformed.
