Vietnam, once a much oppressed colony of France, and then a Communist state, improved its economy and the life of its people rapidly after two decades of destructive war and the trauma of recovery. This change of values in 1986 away from doctrinaire Communism to a market economy — similar to the Chinese model — is not yet complete, and Vietnam remains a one-party state, with a Communist Party of 2 million. While the economic indicators have improved, a rash of corruption, bad debt and billion-dollar defalcations in 2012 checked investor confidence in Vietnam. There is also increasing concern about the government’s human rights record.
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