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Impacts of the global financial crisis on international political life and challenges to Viet Nam
12/3/2013 10:21' Send Print

The crisis has exposed limitations of states particularly of developed countries in forecast, operation and management of national economies. It forced these countries to change or readjust their economic institutions, deepened social contradictions in many countries, and resulted in dissolution or readjustment of political institution in some countries. The economic-financial crisis this time is a factor which drives the establishment of a new order of the world.


For Viet Nam, the recent financial crisis has not only caused impacts on its economy but exerted certain influence on its socio-political situation. In face of this situation, the Vietnamese State has promulgated appropriate policies, put forth several solutions to stimulate economic growth and ensured social security. The Vietnamese Government has mapped out five concrete groups of policy and urgent solutions to prevent recession, maintain economic growth at a certain rate, ensure people’s live, and safeguard social stability and peace.


The recent global economic-financial crisis has made the world aware of important things. There are problems of special concern for Viet Nam. They are awareness and adjustment of relation between the state and market economy, completion of socialist-oriented market economy, restructure of economy, and balanced internal and external strength of which internal strength is the decisive factor.


The biggest lesson learnt from the response to the global economic-financial crisis is higher confidence in the building of the socialist-oriented market economy in which the State plays an important role in systematic and appropriate operation and regulation of the economy and the market’s development according to objective economic laws to guarantee stability, sustainability and harmony. This is a correct model of economic development based on scientific theory and tested practice./.

Vu Van HienProf. Ph.D Vice Chairman of the Central Theoretical Commission