CFR.org | Backgrounder: The Surging Vietnamese Economy

More than three decades after a communist offensive reunified Vietnam, the party’s hold on power and civil society remains unchallenged. But twenty years of liberal economic reforms have brought sweeping changes and foreign investment to a nation characterized by increasing industrialization and a reduction in poverty. The Socialist Republic of Vietnam is poised to become a member of the World Trade Organization (WTO) in November. Despite improved relations with the United States since the two countries normalized relations during theClinton administration, a holdup in the U.S. Congress could stall Hanoi’s full accession into the WTO.´╗┐

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