Tuesday, May 29, 2012 – by Staff Report, Daily Bell
Vietnam Stocks Seen Gaining as Interest Rates Fall ... Vietnamese stocks, Asia's biggest losers during the past five years, are rising the most in 2012 as the nation's largest money managers say falling interest rates will reverse the deepest earnings slump in three years. – Bloomberg
Dominant Social Theme: Look at the progress! Vietnam is a modern state now.
Free-Market Analysis: We at the Daily Bell are old enough to remember the rigid Marxism espoused by Vietnam and the fear espoused by America's top politicos that it would eventually be visited on the West.
If we don't stop them there, politicians intoned, we'll have to stop them here. This was merely another verbalization of the domino theory.
Look how Vietnam has grown. And matured. It was inevitable wasn't it? Today Vietnam has a well-capitalized stock market, a central bank, a Treasury apparatus and other accoutrements of the modern global state. Presumably it has inflation, difficulties balancing its budget and a growing consumerist population as well. These are all the ephemera of modern central banking economies.
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