The content on this webpage contains paid/affiliate links. When you click on any of our affiliate link, we/I may get a small compensation at no cost to you. See our affiliate disclosure for more info

Last updated on March 6th, 2018 at 12:31 am

Nationalised-industry enthusiast Perfesser John Quiggin now occupies an ideological position to the left of communist Vietnam:

Vietnam has cleared a major hurdle and approved privatization for three commercial banks to help the communist country compete against growing international competition.

This would never have happened had an Australian economist been in charge.

Posted by Tim B. on 10/02/2006 at 10:10 AM
    1. Would it be fair to say that Vietnam’s communist leadership is now bankrupt?

      Posted by Tex Lovera on 2006 10 02 at 10:17 AM • permalink


    1. Thanks to comparative advantage, you can always compete, no matter how much of a basket case your economy is.  You currency just falls into the toilet, along with your standard of living.

      Getting the standard of living up is the reason to go private.

      Posted by rhhardin on 2006 10 02 at 10:39 AM • permalink


    1. The Communist experiment is understandable for some countries where the prevailing atmosphere is fairly downtrodden. Russia was a perfect example – the ‘my life is crap because I deserve it’ mentality was well suited to a life under communism.

      By the Vietnamese mentality never seemed geared for it – very hardworking, independent, self-reliant and entrepreneurial people who never particularly liked the idea of a big state. I didn’t think communism would last too long there.

      I read somewhere that Ho Chi Minh was more nationalist than socialist. He enlisted the help of the Yanks in the 50s to turf out the French, trying to use comparisons with George Washington etc to win American sympathies. If the Americans had bought it, Vietnam would have been remained capitalist. Alas, the Yanks felt too obliged to the French, backed the other horse, and we all know how the rest turned out.

      Anyone else heard this version of history?

      Posted by Effing & Blinding on 2006 10 02 at 10:44 AM • permalink


    1. A bout of communism doesn’t seem to have affected the Chinese attitude much either – it would be hard to find a more entrepreneurial, commercially oriented people.  They just never drank the Kool-aid.

      Posted by Brett_McS on 2006 10 02 at 11:32 AM • permalink


    1. Hmmm.

      Anyone else heard this version of history?

      Yes.  But Uncle Ho was oriented very much on the communist/socialist ideology.  If Vietnam had become allied with America I’m pretty sure that it wouldn’t be a democracy but more akin to a socialist state with elections consisting of one candidate.

      So yes he was a nationalist but that was primarily because of the conflict with France.  Once the conflict ended his true views would have become the law.

      *shrug* but that’s just my opinion.

      Posted by memomachine on 2006 10 02 at 11:41 AM • permalink


    1. Ho Chi Minh and his entire party were quite fanatical communists. I recommend Vo Nguyen Giap’s memoirs to get a feeling of how they thought.

      Ho himself was a remarkably cunning and charming fellow, who could talk the fleas off a dog. His “Jeffersonian” reputation comes mainly from the testimony of some US diplomats and OSS people who were dealing with him in 1945, who were in fact charmed.

      Posted by luis on 2006 10 02 at 01:55 PM • permalink


    1. The only time I’ve ever been a millionaire was when I changed USD1,150 into Dongs.
      Ended up with VND17,800,000. Lasted about a week, but it was fun. A bottle of Heineken was only a dollar in the night clubs.

      Posted by burrah on 2006 10 02 at 02:15 PM • permalink


    1. You were game carrying all that money around burrah. I got held up in Nha Trang by a knife wielder; luckily I only had US$20, a cheap watch, expired DL and an old student card on me, and he took the lot and ran off thanks very much. The funny thing is when I got back to my hotel 5 mins later everybody already knew. Spies on every street corner I was told…they know when you’re asleep and they know when you’re awake…

      Posted by Srekwah on 2006 10 02 at 02:40 PM • permalink


    1. I don’t know that I want to go to a country where I have to pay for beer in dongs. (And it would be reallyembarrassing to have to say to a beggar, “Sorry, I can’t help you, buddy, I’m a little short this week.”)

      Posted by andycanuck on 2006 10 02 at 02:41 PM • permalink


    1. #9 LOL!

      Posted by JDB on 2006 10 02 at 06:40 PM • permalink


    1. Yay! The people’s revolution is complete!  Give us our Visa cards. Wait a minute…

      Posted by richard mcenroe on 2006 10 02 at 10:28 PM • permalink


Page 1 of 1 pages

Commenting is not available in this weblog entry.