A Closer look into recent economy, Whether or not Vietnam faces a 10-year crisis?

Abstract

From 2018, the global economy began to grow strongly and synchronously, but as 2018 passed, the development momentum has become slower, faded, along with biased growing trends. The US economy has accelerated thanks to fiscal stimulus policies early this year, while the economy of the EU, Britain, Japan and China began to weaken. These differences will continue to exist in 2019 and Vietnam is not excluded. This study is a closer look into Vietnamese economy from 2007 up to now & prediction to the upcoming period. Objective: The present study aims at giving predictions & recommendations to sustain Vietnam’s economy in the next years based on analyzing multiple economic indicators such as: economic growth rate, inflation, unemployment rate, import and export throughout the period 2007 – 2018. Material and methods: General information about the Vietnam’s economy & crisis trend was collected from the documentation provided by National Financial Committee as well as economic websites. Then, the authors analyzed & made comparisons between years to years & created tables to show them clearly. Secondary data, such as theoretical frameworks and literature, were obtained from reference books, scientific books, scientific articles and peer reviewed journals. Results: The economy since 2007 has been so volatile: the economic growth rate fell erratically, unpredictably; unemployment & inflation rate are still really big problems while import, export & investment have prospered gradually. Conclusions: Vietnam's economy is on a good & rapid growth path, with many economic advantages. However, in essence, Vietnam is still a young economy, so we need to be well prepared to cope with major economic fluctuations that may occur, possibly next year – the beginning year of the 10-year crisis period.