The Intersection of Globalization and Market Socialism in Vietnam: Opportunities and Challenges

EasyChair Preprint 14803

Abstract

This paper explores the intersection of globalization and market socialism in Vietnam, focusing on the opportunities and challenges that arise from this unique economic framework. Since the implementation of the Đổi Mới reforms in the late 1980s, Vietnam has embraced market-oriented policies while maintaining a commitment to socialist principles. This dual approach has facilitated significant economic growth, increased foreign direct investment (FDI), and enhanced integration into global markets. However, the rapid pace of globalization presents challenges such as environmental degradation, rising inequality, and pressure on traditional social structures. The analysis highlights how globalization offers opportunities for technological advancement, job creation, and improved living standards, yet also risks exacerbating social disparities and undermining the state’s ability to regulate economic activities effectively. By examining case studies and empirical data, the paper aims to provide insights into how Vietnam can navigate the complexities of globalization within its market socialist framework, ultimately suggesting policy recommendations to harness the benefits of globalization while mitigating its adverse effects.

Keyphrases: Globalization, Vietnam, intersection, market socialism, opportunities and challenges

@booklet{EasyChair:14803,
  author    = {Elisha Blessing and Gettio Lasha and Charles Eric},
  title     = {The Intersection of Globalization and Market Socialism in Vietnam: Opportunities and Challenges},
  howpublished = {EasyChair Preprint 14803},
  year      = {EasyChair, 2024}}