Vietnam, ruled by communists for 40 years, is now the No. 1 fan of capitalism on the planet

Vietnam s kl cc

Funny how socialism makes one appreciate the finer things in life, like simple price discovery.

I am a big fan of Vietnam. Years ago I even owned a few shares of the Vietnam Opportunity Fund (VTOPF I think) though that investment didn’t go particularly well. As I remember something like half of the fund was composed of a milk company. Eventually VTOPF fizzled. But Vietnam has just picked up the pace since.

(From QZ)

Much like China, Vietnam remains an authoritarian country today. And it’s communist, too, but in name only. Things have changed a lot over the last 40 years. According to a recent Pew Research survey, Vietnam today has the single most positive views on capitalism of any country, with an enthusiasm that is even more widespread than in Germany, India, or the United States.

Click here for the article.