Rethinking Asian Capitalism: The Achievements and Challenges of Vietnam Under Doi Moi

Description

This book attempts to reflect on the changes that Vietnam has experienced over the past 30 years, during and after DoiMoi. Through multi-dimensional empirical investigations, it aims to offer theoretical and empirical accounts for how a variety of socioeconomic regimes emerged after the end of the Cold War. Being methodologically pluralist (including both theoretical and empirical studies), it aims to give a higher profile to heterodox thinking in comparative political economy. Particular attention is given to post-socialist governance, economic transformation, land rights, trade-led growth, civil society participation, climate change, and the post-COVID 19 recovery. This book comes at a time when great changes are about to take place in Southeast Asia, where heterodox economic development strategy is rather understudied. With Asia playing an increasingly important role in the world economy, readers wish not only to hear about the economic transformation but also to see certain hidden aspects or original evidence in order that they can perceive the other dimensions put in place in a market-oriented economy. It will be relevant to students and researchers interested in transitional economics, development economics and the political economy. Preface Acknowledgements About This Book Contents Notes on Contributors List of Figures List of Tables Chapter 1: Introduction 1 Stabilisation and Growth in Vietnam: The Early Experience 2 The Vietnamese Approach to Reforms 3 Vietnam’s “Socialist-Oriented Market Economy” in Contemporary Capitalist Globalisation 4 Organisation of the Volume References Part I: Setting the Scene Over 30 Years: A “lessons learned” Inspection Chapter 2: The Transformations of Contemporary Capitalisms: Seven Lessons 1 Introduction 2 The Club of Developing Economies Was Not Closed: The Rise of East Asia 3 The Asian Capitalisms Are Different 3.1 Not a Mere Replication of Western Capitalisms 3.2 No Convergence Towards a Common Asian Model 4 Geographical Proximity Does Not Mean Identical Brands of Capitalisms 5 Mixing Market Mechanisms with Government Control in a Multi-Level System: China 6 More Interdependence than Competition Among Contrasting Socio-Economic Regimes 6.1 A Deepening of Economic Specialization with the Opening-Up of World Trade 6.2 Interdependent and Even Complementary Socio-Economic Regimes 7 The 2010s: The International Regime Is at Risk from Converging Pressures 7.1 The Defence of National Economic Sovereignty by New Political Movements 7.2 The Open Conflict Between Economic Complementarity and Geopolitical Rivalry 7.3 The Crisis of Post-WWII International Organizations 8 All Development Strategies Have To Be ReDesigned in the Face of Major International Uncertainties 8.1 Size Matters 8.2 The Transformation of the International Regime: Four Scenarios 8.3 Reconsidering the Benefits of Foreign Direct Investment and Export-Led Growth 8.4 The Century of the Anthropogenetic Model? 9 Conclusion References Chapter 3: The Hybrid Nature of the Vietnamese Market Economy: Personal Relationships and Debt in the Dairy and Maize Sectors 1 Introduction 2 From the Heterogeneity of Economies to Economic Hybridity 3 The Case Studies: Context and Methodology 4 The Role of Personal Relationships in Shaping the Ba Vi Milkshed 4.1 The Superimposition of Capitalist Forces on a Collectivist State-Led Economy 4.2 Toward “Formalized” Relationships Between Actors 4.3 Financial and Moral Indebtedness as Bonds 4.4 A Moral Agreement 4.5 Feasts, Banquets, Gifts, and Affective Relationships 5 The Role of Personal Relationships Within the Maize Sector in Mai Son 5.1 Global Agricultural Changes in Mai Sơn: The Deployment of the Forces of International Capitalism 5.2 The “Intermediaries”: Actors in a Central Position Within the Network 5.3 Debt Relations Between Input Retailers and Farmers 5.4 Credit and Advances: Necessary Conditions for the Sale of Agricultural Inputs 6 The Imbrication of Extra-Economic Logics Within the Market Economy: Challenge or Support Capitalism? 6.1 Financial Debts Embedded in Interpersonal Relationships 6.2 A Part of the Gift-Giving System 6.3 The Hybrid Nature of the Vietnamese Economy 7 Conclusion References Chapter 4: The Rise of Mega Farms in the Vietnamese Dairy Sector: A Marker of a New Agrarian Capitalism in Asia 1 Introduction 2 Framework and Method 3 Market Reforms and Support for Smallholders (1986–2008) 3.1 The Failure of State Farms and Emergence of a Peasant Economy 3.2 Smallholder Farms at the Core of the Post-Đổi Mới Dairy Economy 3.3 Conclusion on the Period 4 The Emergence of Mega Farms (2008–2020) 4.1 The “Peasant Regime” Called into Question 4.2 The Promotion of “Commercial Farms” (Trang Trai) and “Private Firms” (Doanh nghiệp) 4.3 The Emergence of the “Mega Farm” Model 4.4 Conclusion of the Section 5 Permanence and Resistance in the Dynamics of Capitalism 5.1 Control of the Land: A Prerogative of the State in Steering the Transition 5.2 Local Partnerships: A Factor Structuring the Dairy Milk Sheds 5.3 The Limits of the Sector Rationale: The Risks of Farmers’ Exclusion 6 Conclusion References Chapter 5: Core Values in Educating Human Resources for Socio-economic Transformations in Viet Nam 1 Introduction 2 Some Typical Cultural Values of Vietnamese People 2.1 Vietnamese Cultural Dimensions by Geert Hofstede 2.2 Vietnamese Dimensions Among Southeast Asian Cultural Ones by Storti 2.3 Vietnamese Traditional and Core-Oriented Values by Tran Ngoc Them 3 The Twenty-First-Century Skills and the Reality of Vietnamese Human Resources 3.1 The Twenty-First-Century Skills Needed for Sustainable Development 3.2 The Reality of Vietnamese Human Resources 3.3 Awareness of Developing New Core Values in Higher Education 4 Implications for Improving the Human Resource Training Programs References Part II: Existing and Emerging Issues in the Modern Society Chapter 6: Public-Private Partnerships in Post-socialist Urban Governance: Comparative Institutional Change in Leipzig, Shanghai, and Ho Chi Minh City 1 Introduction 2 Conceptual Framework 2.1 Institutional Change in Post-socialist Urban Governance 2.2 PPPs and Urban Governance 2.3 An Integrated Approach to Comparing and Explaining the Institutional Change Associated with PPPs in Urban Governance 3 Differences in the Institutional Change Associated with PPPs in Post-socialist Urban Governance 3.1 Institutional Change Associated with PPPs in Leipzig 3.2 Institutional Change Associated with PPPs in Shanghai 3.3 Institutional Change Associated with PPPs in Ho Chi Minh City 3.4 Differences in Institutional Change Associated with PPPs 4 The Differences in Institutional Change Associated with PPPs in the Three Cities Described and Profiled 4.1 The Institutional Intermediation of Structural Context and Political Actors 4.2 Cultural Intermediation of Structural Context and Institutional Milieu 4.3 Institutional Intermediation of Culture and Political Actor 5 Conclusion References Chapter 7: Agricultural Land Conversion and Land Rights in Vietnam: A Case Study of Farmers’ Resistance in the Peri-Urban Areas of Hanoi 1 Introduction 2 Methodology and Data Collection 3 Land Law in Vietnam and Its Implications in the Case of Duong Noi 3.1 An Analysis of Current Land Law in Vietnam 3.2 The Implications of Land Law in the Case of Duong Noi 4 Conditions for Resistance in Duong Noi 5 Farmers’ Resistance Strategies: Lawful Resistance and Beyond 5.1 Peaceful Forms of Resistance 5.2 Contesting Resistance: Challenging the Current Values and Laws 6 Remaining Agricultural Land Claim as Rights Claim: Citizenship Rights 7 Conclusion References Chapter 8: Philanthropy in Việt Nam: A Field Study 1 Introduction 2 The Philanthropy Community and Space in Việt Nam 2.1 Some Salient Features, Strengths, and Limitations of Philanthropy Actors and Stakeholders in Việt Nam 2.2 The Question Arises as to Whether the Philanthropy Community and Space in Việt Nam Can Be Considered an Ecosystem? 3 Emerging Trends in Philanthropy in Việt Nam 3.1 Factors Stimulating Change in and Evolution of the PE in Việt Nam 3.2 What Main Trends Are Emerging in the PE in Việt Nam? 4 Conclusion Appendix Case Profile 1 Entrepreneur Phạm Văn Bên and Cỏ May Student Hall An Entrepreneur with a Philanthropist’s Vision A Philanthropic Model Unique in Building and Operation Some Cỏ May Philanthropy Highlights Case Profile 2 KOTO Social Enterprise and Foundation From “Giving the Fish” to “Giving the Fishing Rod” and “Teaching How to Fish” KOTO’s Training Culture: Building Self-esteem and Community Values Next Step for Achieving Sustainability Case Profile 3 Sống Foundation for Support and Development of Sustainable Living Community and Flood-Resilient Housing Program Practical Values of the Nhà Chống Lũ/Flood-Resilient Housing Program Chapter 9: Income-Based Social Stratification in Vietnam, 1998–2018 1 Introduction 2 Data and Methodology 3 Literature Review 4 Findings 5 Conclusion References Part III: Vietnam in the Regional and Global Settings Chapter 10: Vietnam’s WTO Accession and the Pathway to a Global Playing Field: A Critical Perspective 1 Introduction 2 Our Theoretical Framework 2.1 Interdependency in an Open Economy 2.2 The Balance-of-Payments-Constrained Growth Model 3 Database and Preliminary Estimations 3.1 Data Analysis 3.2 Estimation Results on the Long-Run Elasticities 4 Empirical Results 4.1 A Global Assessment 4.2 A more Detailed Analytical Breakdown 5 Conclusion Appendix a Countries in each Vietnam’s Partner Group Appendix B Data Sources and Definitions References Chapter 11: Illicit Border Trade in the Borderlands of Thailand and Lao PDR Under Trade Liberalization and AFTA 1 Introduction 2 Fieldwork Aspects 2.1 Study Sites 2.2 Research Methodologies 3 Conditions of Illicit Border Trade in the Borderlands of Thai-Lao PDR 4 Interaction and Cooperation Between Licit and Illicit Border Traders in the Thai-Lao PDR Borderlands 5 Significance of Illicit Border Trade for Local Economy and Livelihoods of Borderlanders 6 Conclusion References Chapter 12: Challenging the Concept of “China-World” References Part IV: Stakes and Uncertainty in a Globalised World Chapter 13: Vietnam’s Mode of Development in the Face of Climate Change 1 Introduction 2 An Environmental “Doi Moi”? 2.1 A Successful Structural Transformation 2.2 But Benign Neglect of Environmental Degradation 2.3 The Missing Environmental Doi Moi Air Pollution Water Pollution Deforestation Food Security 3 The Emergence of the Climate Question in Vietnam 3.1 Climate Change as a Driver of Vietnam’s Global Integration 3.2 The Remaining Climate Policy Gap Temperature Rainfall Sea-Level Rise Extreme Events 4 After COP26, the Real Ecological Turning Point in Vietnam’s Development Path? 4.1 Dire Prospects in the Business-as-usual Scenario 4.2 A Real Ecological Turning Point: Prospects and Difficulties References Chapter 14: From Global to National: Manufacturing Strategies in the US, China, Germany and Japan in Comparative Perspective 1 Introduction 2 Approaching National Manufacturing Strategies: The Analytical Framework 2.1 The Varieties of Capitalism Approach 2.2 The Developmental State Approach 3 Comparing National Manufacturing Strategies: The US, Germany, Japan and China 3.1 Comparing the Strategy Plan and Design 3.2 Comparing the Strategy Governance and Implementation Mechanisms 3.3 Comparing the Strategies’ Institutional Complementarities 4 Concluding Discussion References Chapter 15: Time for Another Kind of Globalization: Challenges for Theory and Proposals 1 The Common Core of Heterodox Economics and the Need for Debate 2 Novelties Within Today’s Reality: Needs and Elements for a New Common Core 3 Some Words About Marx’ Radical Legacy for Developing a Common Positive Heterodoxy: The Central Debate on “Regulation” of the System 4 A New World: Problems and Characteristics—Going Beyond Marx, Keynes and Schumpeter 4.1 The Informational Revolution, Capitalism and MNEs 4.2 The Opening of a Long-Run Kondratiev Difficulties Phase in the Early 1970s 4.3 Wrong Answers to Financial Crisis: “More”, Rather than “What Kind”, of Public Intervention 4.4 Toward a New Phase of Globalization: Imperialism, Neocolonialism and the Dollar Called into Question 5 The Task Before Us 6 Transforming Globalization—Guiding Lines of Alternatives 6.1 Principles 6.2 Financial Globalization and MNEs: Toward a New Theory 6.3 For a New Kind of International Economic Treaties 6.4 Money Creation, Central Banks, the Dollar 6.5 The US Dollar 7 Going Beyond the Tradition to Cope with the New Coming Crisis 8 Conclusion References Chapter 16: Epilogue: The Lessons from Covid-19 Management in Vietnam and Post-pandemic Prospects 1 Introduction 2 Covid-19 Outcomes in Vietnam—Overview of a Surprising Success 3 The Sources of Vietnam’s Strengths During Covid-19 (Phase 1) 4 Vietnam at the Heart of Reinforced Multilateralism in East Asia (RCEP) 5 Tensions Between Health Outcomes and the Model of Global Economic Integration in 2021 6 Conclusion and Implications References Index