Economic and political characteristics of Vietnam's recent growth
Question
Consider the following statements: Which of the statements given above are correct?
- 1.
Vietnam has been one of the fastest growing economies in the world in the recent years.
- 2.
Vietnam is led by a multi-party political system.
- 3.
Vietnam's economic growth is linked to its integration with global supply chains and focus on exports.
- 4.
For a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers.
- 5.
Vietnam has the most productive e-service sector in the Indo-Pacific region.
Options
2 and 4
3 and 5
1, 3 and 4
1 and 2
Explanation
Statements 1, 3, and 4 are correct; Vietnam's meteoric economic rise is a textbook case of export-led growth, aggressively integrating into global supply chains by leveraging low labour costs and a stable currency. Statement 2 is incorrect; Vietnam is an authoritarian single-party state led exclusively by the Communist Party of Vietnam. Statement 5 is incorrect; while growing, its e-service sector is nowhere near the most productive in the Indo-Pacific (trailing giants like India, Japan, and Singapore).
Answer: (c).
Question details
Year
2022
Paper
GS Paper 1
Question
Q67
Subject
International Relations
Sub-topic
World Affairs & Geography
Type
Statement-based
Difficulty
Hard
Nature
Current-affairs-linked
Source hint
Vietnam Socialist Republic Export-Led Manufacturing Integration
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