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What Market with Socialist orientation means in Vietnam, A Thread (inspired by the twit bt @asatarbair below) https://twitter.com/asatarbair/status/1356976122727079936
1/ The quote in the screenshot below (source from the VCP 6th Congress - when we initiated the economic reform) can be translated as “the econimc development is the material basis for social policy, however, social policy must be the goal for every economic activities”
2/ Economic development must go hand in hand with social development and equality, in EVERY STEPS AND THROUGH OUT THE WHOLE DEVELOPMENT”
3/ Example 1: during the early days of covid-19, the price of paper maks skyrockets and hoarding of mask becomes widespread. This is “market” force in practice. However, the gov stops it completely by penalizing vendors who raised the price, increases the supply and stop export.
4/ Example 2: VinGroup (biggest private company in Vietnam) is instructed to produce medical supply immediately, to reduce the pressure internal and avoid high cost of purchase from oversea. https://www.medicaldesignandoutsourcing.com/vietnams-vingroup-to-supply-ventilator-parts-to-medtronic/
5/ Example 3: rice export is stopped completely until the gov stock is filled. Again, company who refuses to sell to Gov with the fix price and immediately register for export is penalized and will have a harder time exporting rice due to their “profit first” policy
6/ Example 4: (non-Covid related) farmer is given land to cultivate, but most are small owner and organized into new coop style, where the coop supports (technical), guide (type of fruit to grow) and protect the farmers interest.
Big single landowner is rare and mosy farmers are still working on their own land (technically belongs to the state) and not as worker for some capitalist. Over-production happens sometimes (due to personal greed of some farmers) but is absorbed by the community...
Sometimes very creatively (see the dragon fruit bread below). However, all farmers are instructed (not forced) to coop with (rather than compete against) others to ensure the correct type of fruits are produced according to real demand. This is somewhat “planned economy”, imo
7/ Throughout the thread, you can see the community spirit of the Vietnamese people, a must have for socialism and an important factor to ensure gov policy is effective. Individualism and profit seaking is there as by-product of the market, so it is an ongoing struggle for us.
8/ In no way I said Vietnam is perfect or we will reach socialism without issues, what I try to say is we deal with the unique challenge head-on and is very determined to build socilism in our country. We will fight hard against any reactionary forces during the process. End.
