The existential challenge is the 'average thinking' trap

Associate Professor, Dr. Nguyen Manh Hung said that before falling into the middle-income trap, Vietnam still has a huge challenge, the middle-income mindset trap: doing everything in a routine and average way, doing things but not getting much results.

On the morning of October 31, the Ho Chi Minh National Academy of Politics held a scientific workshop to contribute ideas to the draft documents of the 12th National Party Congress.

Associate Professor, Dr. Nguyen Manh Hung, Deputy Director of Ho Chi Minh National Academy of Politics, spoke at the conference

PHOTO: GIA HAN

Speaking at the second discussion session on development orientation and strategic decisions during the 14th Party Congress, Associate Professor Dr. Nguyen Manh Hung, Deputy Director of the Ho Chi Minh National Academy of Politics, Vice Chairman of the Central Theoretical Council, Standing member of the Editorial Board of the 14th Party Congress Documents, said that the two goals for 2030 and 2045 are very clear. What we need now is faith and aspiration, just like the faith and aspiration that led to victory 50 years ago (1975).

"I also think and surely many comrades and all of us also think, there is no reason why a nation that has achieved a great victory cannot create a development miracle," Associate Professor, Dr. Hung said.

Mr. Hung also said that in the process of drafting documents to be submitted to the 14th Party Congress, especially when talking about development goals, some people were concerned that setting two such goals (by 2030, becoming a developing country with modern industry and high middle income; by 2045, becoming a developed country with high income - PV) was too high or not?

When working with the document editing team, General Secretary To Lam also asked the question: can the two goals set by the 13th Congress be achieved? If they cannot be achieved, they must be revised; if they cannot be revised, they must be determined to do it and must be done at all costs.

Mr. Hung believes that the General Secretary's direction is the key, breakthrough and decisive point. "That means once a goal is set, we must be determined to complete it," Mr. Hung stated.

Delegates attending the conference gave comments on the documents of the 14th National Party Congress.

PHOTO: GIA HAN

Not "catching up behind" but "breaking through and surpassing"

However, Associate Professor Dr. Nguyen Manh Hung also admitted that achieving the above two goals is not easy. According to him, it took Vietnam 40 years to transform from a poor, backward, underdeveloped, low-income country to an upper-middle-income country. Thus, from now until 2045, it will take about 20 years for Vietnam to become a developed, high-income country. "That means the time is only half of the previous period but the task is twice as difficult," Mr. Hung said.

Mr. Hung said that the draft Political Report of the 14th National Congress identified the overarching risk as the risk of falling behind, especially falling into the middle-income trap. However, according to Mr. Hung, "before falling into the middle-income trap, there is a huge challenge that exists, which is the trap of average thinking. Doing everything is done regularly, averagely, but with little results."

At the same time, the draft Political Report also stated that the international and regional context is changing rapidly, with many instabilities, uncertainties, complex developments, and difficult to predict. But at the same time, it also emphasized that the world is undergoing epochal changes, creating many favorable opportunities and difficulties, and challenges intertwined in that uncertain and difficult to predict space.

Mr. Hung said that the documents of the 14th National Congress especially emphasize non-linear development thinking, the present and the future are not on a straight line and this is the opportunity for a breakthrough.

Mr. Hung cited that the press recently reported that Nvidia's market capitalization reached 5,000 billion USD. Meanwhile, in July, the company's market capitalization was only 4,000 billion USD, in June 2024 it was 3,000 billion USD and in May 2023 it was 1,000 billion USD.

This is a testament to the remarkable growth in the current era, although it is impossible to compare the increase in a company's capitalization value with the growth rate and GDP size of an economy.

Mr. Hung also emphasized that the spirit of development in the documents of the 14th Party Congress is very new. "It is not just growth but breakthrough development. It is no longer the mindset of catching up but the mindset of breaking through and surpassing", Mr. Hung emphasized and said that this is also the spirit of strategic decisions implemented right before the 14th Congress and is clearly reflected in the orientations, key tasks, and breakthroughs in the draft Political Report.

Source: https://thanhnien.vn/thach-thuc-hien-huu-la-bay-tu-duy-trung-binh-185251031162152321.htm