Reprint of Prime Minister Pham Minh Chinh's book: Insights into Vietnam's economy

This is an elaborate research work, reflecting the movement of the Vietnamese economy from after the August Revolution to the end of 2008, and at the same time suggesting many issues in the country's development.

The Truth National Political Publishing House has just republished the book "Vietnam's Economy - Ups and Downs and Breakthroughs" by two authors Pham Minh Chinh and Vuong Quan Hoang.

According to the publisher, the book was first published in 2009, in the context of the global financial crisis at its most intense stage, and was well received by a wide audience.

This third edition not only affirms the lasting value of the work, but also allows today's readers to access a rich body of knowledge about the Vietnamese economy in relation to the global economic context, especially in the first 20 years since the implementation of renovation.

“Vietnam’s Economy – Ups and Downs and Breakthroughs” consists of 13 chapters, divided into three parts. In the “Ups and Downs” part, the authors take readers back in history to illuminate the turbulent transitional periods, from a colonial economy to an independent economy, from a subsidized economy to a market economy, from an underdeveloped economic country to a period of high economic growth.

Coming to the “Breakthrough” section, the book helps readers clearly see the strong transformation in economic thinking in Vietnam, from recognizing a multi-sector economy, recognizing the role of the private economic sector, to innovating banking institutions and developing the financial market system (gold, foreign currency, securities), and real estate market.

The depth of the book is shown in the “Problems and Phenomena” section when the authors raise theoretical but also highly practical questions: How to limit asset bubbles? To what extent should the government intervene in the financial market? To what extent can the power of the market go hand in hand with the role of state management? Phenomena such as “herd behavior” in the gold market, the dollarization of the economy or bank credit risks… are explained not only by data but also through analysis of economic models and international comparisons.

A highlight of this work is the placement of Vietnam's economic development process in relation to fluctuations in the global economy. Fluctuations in the international financial market, globalization trends, foreign capital flows, gold prices, US dollar exchange rates, real estate markets and especially the 2008 financial crisis, are carefully analyzed by the authors in their organic relationship with the Vietnamese economy.

The book is reprinted for the third time. (Photo: Publishing House)

Thanks to that, readers can better understand how exogenous factors have a major impact on the domestic economy, and at the same time better identify the role of macroeconomic management, government intervention such as through monetary policy, and the market's capacity in dealing with the crisis.

With about 500 pages of main content, the book is the result of many years of research, data collection and practical analysis. The authors do not simply recreate economic history but also criticize ineffective economic development viewpoints and methods; at the same time, they emphasize the need to continue to innovate thinking, perfect the market mechanism with State regulation, and promote internal factors to integrate Vietnam more effectively into the global economy.

The book is one of the few works that combines scientific critical thinking with a constructive and responsible spirit, suitable for many readers from policy makers, researchers, economic experts to students, businessmen and those interested in the fate of the country's development.

In particular, the search system at the end of the book, along with tables, figures and illustrations, facilitates reference and in-depth research./.

Author Pham Minh Chinh is currently the Prime Minister. He wrote this book when he was Deputy Minister of Public Security.

Dr. Vuong Quan Hoang is currently the Director of the Center for Interdisciplinary Social Research at Phenikaa University (Hanoi) and Research Professor at Korea University (Seoul, Korea). Member of the NAFOSTED Economic Science Council, 2019-2024. In 2009, he was a researcher at the Centre Emile Bernheim, Université Libre de Bruxelles (Bruxelles, Belgium).

After publication, the book was stored in many major libraries around the world such as the US Library of Congress, the British National Library, the National Library of Australia, Harvard University, Cornell University, the University of Michigan, etc.

(Vietnam+)

Source: https://www.vietnamplus.vn/tai-ban-sach-cua-thu-tuong-pham-minh-chinh-goc-nhin-sau-sac-ve-kinh-te-viet-nam-post1048993.vnp