India and Vietnam are both Asian countries who are quite similar in a number of aspects, and as such it is important to examine and analyze how globalization and other factors have had an impact on them from a social, political, and economic perspective. During the late part of the 20th century, the International Monetary Fund and other organizations collaborated with countries that were struggling economically and offered financial assistance and the creation and implementation of policies. Globalization has had a significant impact on countries around the world; both positive and negative outcomes have resulted from various factors pertaining to globalization. Revolutions ...view middle of the document...
The two countries also have rather distinct histories in spite of the similarities of their states prior to globalization and IMF intervention. Taking all this into account one would expect that globalist policies would have similar economic and social results but perhaps the political outcomes would differ from one another.
The two nations embraced globalization in the late 80s and early 90s respectively. Since then they’ve experienced similar fortunes in terms of the economy. Vietnam and India saw similar GDP growth rates from the 90’s until as recently as 2003. The growth rate for Vietnam’s GDP hovered between 5%-8% respectively while India saw an average growth rate of 5.9% . Other socio-economic indicators such as their GDP per capita and life expectancy rates have also been similar in recent times. The social problems that two countries face since the last decade have also been alike. Both countries suffer from a lack of infrastructure in various areas of the country and health and poverty issues amongst both rural and urban populations. Such indicators are signs that perhaps the policies of globalization and IMF have yielded similar results in both India and Vietnam, especially on social fronts.
Vietnam and India have rather contrasting modern histories. The 1960s and 70s were marred by a war between North and South Vietnam that eventually left the country in the hands of a Communist government. Vietnam’s policies were largely socialist until 1986 where free-market reforms were introduced and implemented. These reforms were known as Doi Moi that attempted to establish economic and diplomatic relations with East Asian and Capitalist Western countries. India’s modern history began with independence from Great Britain following which it established itself as a democratic nation. Much of India’s tensions lied with Pakistan as the two neighbours fought in several wars. The form of government that rules the two nations is the biggest reason for different outcomes when faced with globalization; India had continuous strife with its neighbour while Vietnam maintained diplomatic relations with its neighbours in spite of the nation’s closed-country policies.
Michel Chossudovsky’s book examines the various aspects of how globalization and particularly the International Monetary Fund has had an impact on a number of countries—particularly third world—at a variety of levels; political, economical, and social. It provides supplemental information regarding what processes and changes countries underwent as a result of the IMF’s involvement within various political and economic policies and what was the resulting aftermath of these implementations. The research that was utilized within this book builds the examination and analysis of the formation of the IMF and the various policies and decisions made by the organizations and the impacts that they have caused on different countries, such as India and Vietnam. Moreover, it...