what kind of economy does vietnam have today
Economy of Vietnam The socialist-oriented market economy of the Socialist Republic of Vietnam is the 47th-largest economy in the world measured by nominal gross domestic product (GDP) and 35th-largest in the world measured by purchasing power parity (PPP). The country is a member of APEC, ASEAN and the WTO.
Paris Peace Accords
North Vietnam After the failure to reunify Vietnam by elections, the Democratic Republic of Vietnam attempted to unify the country by force in the Vietnam War (1955–75). North Vietnam and the Việt Cộng insurgents supported by their communist allies, including the Soviet Union and China, fought against the military of South Vietnam, the United States and other anti-communist military forces, including South Korea, Australia, Thailand, and smaller players. North Vietnam also supported indigenous communist rebels in Cambodia and Laos against their respective U.S.-backed governments. The war ended when North Vietnamese forces and the Việt Cộng defeated the Republic of Vietnam and in 1976 united the two parts of the country into the Socialist Republic of Vietnam. The expanded Democratic Republic retained North Vietnam's political culture under Soviet influence and continued its existing memberships in international organisations such as Comecon.
Economics Theory and observation set out the conditions such that market prices of outputs and productive inputs select an allocation of factor inputs by comparative advantage, so that (relatively) low-cost inputs go to producing low-cost outputs. In the process, aggregate output may increase as a by-product or by design.[37] Such specialization of production creates opportunities for gains from trade whereby resource owners benefit from trade in the sale of one type of output for other, more highly valued goods. A measure of gains from trade is the increased income levels that trade may facilitate.[38]