How has globalization changed Vietnam After many years of war with France and the United States, Vietnam closed its economy to the outside world and attempted to control its own destiny. This was not successful and the country decided to open its doors to globalization in the 1980s and 1990s. Globalization has profoundly affected the nation in a variety of ways. The two most important are the rapid growth of the economy and change of its culture. First and foremost, Vietnams economy has experienced great success since moving to an open-door policy. For example, GDP has grown at a rate of nearly 10 since 2000.
Thus, the average yearly income in Ho Chi Minh City is now 4,000. Further, Vietnam is now exporting many products to other nations and importing a great deal of high technology. The incredible economic growth has drastically reduced the poverty rate and allowed the citizens to focus more on their education and personal development. In addition, the world becoming flatter has altered Vietnams culture in a huge way. For instance, many young teenagers now listen to American pop music and watch Western films instead of traditional Vietnamese media. Others are now getting tattoos and some girls are demanding more equality in their households.
Globalization not only exchanges goods, but cultural ideas as well. Vietnam has fully embraced the more positive aspects of Western culture in addition to some of the more negative ones such as a less healthy diet. Vietnams exact future is unclear, but the country is sure to westernize more as time goes on. Globalization brings a lot of opportunities and advantages, which support Vietnams growth. For example, domestic companies can apply new technology from outside countries such as weaving machines in textile factories, so they can reduce the technological gap as well as export domestic products more cheaply.
From that, Vietnamese companies can enhance efficiency in business and contribute to national development. In addition, foreign capital is used to help the government to conduct public projects and build up infrastructure. This has generated convenient conditions for residents and enterprises doing business. Furthermore, the internationalization and experience transferring process often happen at the same time, so this is a good chance for Vietnamese companies to learn and collect managing experience from developed nations such as the USA, the UK, Japan, etc.
For instance, American corporations often instruct Vietnamese managers how to increase the efficiency of their employees. (You dont really have specific examples)Besides the good effects, globalization also has brought bad effects to Vietnam. For instance, foreign companies that put their plans in Vietnam to produce goods cause air and water pollution. This is harmful for both residents health and the environment. In addition, current investment capital (uncount), which will be repaid in the future, are creating pressure for the young generation. Moreover, Vietnam will be drastically impacted if the international economy experiences a crisis.
In fact, the crisis from the US in 2008 affected not only its economy, but also many nations all over the world including Vietnam, and until now, the Vietnamese economy has not recovered. Globalization also has drawbacks about national culture andenvironment. First, Vietnam is an ethnic rich country and has its own unique culture. But global growth has taken this identityaway gradually instead of beingcultural of Western.
For instance, fast food has developed in Vietnam everywhere and local food is not focused to young generation. Moreover, globalization is one of reasons causing pollution for environment. Innovations of technologycreate many machines and they excrete toxic gases out atmosphere. I believe that globalization has caused some dramatic changes in Vietnam, both economically and culturally. Not all of these changes are beneficial, but this phenomenon has had an overall positive effect on the country.
