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Vietnam, [e] [f] officially the Socialist Republic of Vietnam, [g] [h] is a country at the eastern edge of mainland Southeast Asia, with an area of about 331,000 square kilometres (128,000 sq mi) and a population of over 100 million, making it the world's fifteenth-most populous country.
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year.
Measures of personal income include average wage, real income, median income, disposable income and GNI per capita. Comparisons of GDP per capita are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries, see List of countries by GDP (PPP) per capita .
Vietnam also lags behind China in terms of property rights, the efficient regulation of markets, and labor and financial market reforms. State-owned banks that are poorly managed and suffer from non-performing loans still dominate the financial sector. [3] Vietnam had an average growth in GDP of 7.1% per year from 2000 to 2004.
Real estate tycoon Truong My Lan faces the death penalty in a trial that began Tuesday over alleged fraud amounting to $12.5 billion — nearly 3% of the country’s 2022 GDP and Vietnam's largest ...
Vietnam is located on the eastern margin of the Indochinese peninsula and occupies about 331,211.6 square kilometres (127,881.5 sq mi), of which about 25% was under cultivation in 1987. It borders the Gulf of Tonkin , Gulf of Thailand , and Pacific Ocean, along with China, Laos , and Cambodia .
These reforms were undertaken to allow Vietnam to integrate with the global economy. The term "socialist-oriented" is used to highlight the fact that Vietnam has not yet achieved socialism and is in the process of building the basis for a future socialist system. [2] The economic model is similar to the socialist market economy employed in China.
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."