Similar to most developing countries, Vietnam’s economy is a fascinating, not to mention, an unpredictable one to keep an eye on.
After the Vietnam war, the Southeast Asian country suffered a traumatizing blow to its financial system and the country lived mainly off its agriculture industry, also known as wet rice farming. Its new communist government set up an undemocratic economic system and kept the country’s standard of living relatively low.
For its shift to communism, the United States and parts of Europe refused to trade with Vietnam until recently. Today, Vietnam has one of the world’s fastest growing economy and GDP growth, but this could be closely related to the vast differences in Vietnam shortly after the war up until the 90s.
Compared to how little Vietnam had before, the country has improved much, becoming the world's largest producer of cashew nuts and black pepper and third largest oil producer in Southeast Asia. Its tech industry has also been developing at an incredibly rapid rate.
According to Goldman-Sach’s, Vietnam’s economy is expected to become the 17th largest in the world by 2025 and PricewaterhouseCoopers predicted Vietnam may attain an economy 70 percent the size of the United Kingdom by 2050.
With a new financial system and emerging economy, the fast-changing country makes itself almost irresistible to foreigners who are intrigued by how much the once-impoverished country really has altered herself.
So here’s another reason to visit:
Vietnam plans to allure tourists to its scenic realm with Xin Chao (Hello), a combination of circus-like dance and martial arts performances, opening December 5 in Ho Chi Minh City.
Incorporating a similar model to Singapore’s Voyage de la vie, Thailand’s Siam Niramit, and Canada’s Cirque du soleil, the dance acts will showcase 50 artists performing on District 1’s Pham Ngu Lao Street.
Producer Laura Burke and Augustus Greaves, managing director and producer, hopes audience members will not only take away the country’s dance art through Xin Chao’s performances, but also absorb the history and culture that is so often exuded in passionate and involving arts.
I am always amazed when witnessing art from regions where silence and secrecy are typically encouraged and even expected. Openness and acceptance allows us to share ourselves and express an art form when we don’t even plan to, but I can only imagine how deep and sorrowful an art form can develop when openness and acceptance is not apparent.
For Vietnam’s sake, Xin Chao will not only benefit the country economically, but also share the country’s other export, her inner beauty and charm, with the world.