Unit 7 Lớp 12 Reading - Bài Dịch Economic Reforms

Read the passage carefully, decide whether the statements are true (T) or false (F) and then answer the questions.

From 1975 till the major economic reforms of 1986, Vietnam followed socialist policies of high command economy and political centralization, extending the collectivization of agriculture to South Vietnam and nationalizing of all economic and industrial enterprises including foreign enterprises. Between 1980 and 1985, the government adopted half-hearted liberal measures including family-based contract systems and promoting state-private joint enterprises. The economic stagnation continued until 1986 when the proponents, within the Vietnamese Communist Party, of economic liberalization along the lines followed by China came to power. The new policy, styled doi moi (politics of renovation) led to the abandonment of centralized planning in favor of decision-making by factory managers in terms of equipment, production targets, and sources of finance. The Doi Moi policies registered spectacular economic gains in the growth in GDP, in savings and investment rates, and exports. They brought in large amounts of foreign investment, liberalized the banking structure, and made the currency stable. These measures, among others, led to the lifting of the economic embargo by the United States and made loans and grants by the IMF, World Bank, and Western donors possible.

True or False

1. From 1975 to 1985, the Vietnamese economy was not growing or developing.

2. Vietnam economic reform, which was referred as Doi Moi, was implemented in the years between 1980 and 1985.

3. Before Doi Moi, the economy of Vietnam was characterized by collective ownership and central ship.

4. China followed Vietnam’s example by reforming the economy.

5. The Doi Moi policies brought about dramatic changes in the Vietnamese econom.

Key

1. From 1975 to 1985, the Vietnamese economy was not growing or developing. (T)

2. Vietnam economic reform, which was referred as Doi Moi, was implemented in the years between 1980 and 1985. (F) ---> Vietnam economic reform, which was referred as Doi Moi, was implemented in 1986.

3. Before Doi Moi, the economy of Vietnam was characterized by collective ownership and central ship. (T)

4. China followed Vietnam’s example by reforming the economy. (F) ---> Economic liberalization along the lines followed by China came to power.

5. The Doi Moi policies brought about dramatic changes in the Vietnamese economy. (T)

​Answer the questions

1. When was Doi Moi officially initiated?

2. What were the achievements of Vietnam economic reform?

Key

1. Doi Moi was officially initiated in 1986.

2. The Doi Moi policies registered spectacular economic gains in the growth in GDP, in savings and investment rates, and exports. They brought in large amounts of foreign investment, liberalized the banking structure, and made the currency stable.