Poverty Economic Overview Since the Term Paper

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Transportation congestion for cars and ships is said to now be worse than China's problem. Corruption has slowed construction; the government stopped highway building across northern Vietnam in 2006 after uncovering a graft scandal that led to resignations and detentions at the Transport Ministry. Factories are challenged power shortages that cause frequent interruptions as much as twice a day.

Even though Vietnam's trade is booming and it has formed many types of open trade arrangements, the country is accused of dumping, a practice of selling in another market at a price which is lower than the price or cost in Vietnam's home market (Bradsher, 2006). The United States imposed anti-dumping duties on Vietnam's catfish exports three years ago and the European Union recently imposed them on Vietnamese shoe exports.

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At a time of extreme income disparity, skills shortages, and inflation, Vietnam should not be pursuing tax breaks for the wealthy. Instead, it should be focusing on investing in education and transportation and utilities infrastructures. Transition from agriculture to industrialization requires different skills and places greater demand on infrastructure.

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These activities should be converted into public services rather than state-rant activities to promote greater efficiency and progress.

Vietnam is creating growth through free trade and should not risk negating progress through dumping practices. These could not only alienate trading partners, but could also slow down foreign investment. Instead of trying to unfairly compete, Vietnam needs to continue to transform is industrial and construction sectors into production of high-value added goods and reduce it's reliance on commodity production such as textiles where the market is very competitive. Likewise, most of Vietnamese agriculture firms export raw and semi- processed products, and few are able to turn out processed items with competitive advantages (Vietnam garment, agriculture firms to face big WTO challenges, 2006). Further, it will be difficult to compete on price because many foreign competitors still receive state subsidies. For all these reasons, Vietnam needs to continue transformation not just from agriculture, but also from commoditized industrial goods to electronics and technology components......

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