Pyramids of risk: Vietnamese merchants hurt in credit swindle

Article Abstract:

A group of informal credit cooperatives or hui, whose investors were chiefly ethnic Chinese, went bankrupt on Jul 4, 1993 in Ho Chi Minh City, Vietnam. This failure spawned losses of between $9.5 and $19 million and caused 10 people to try to kill themselves. Though some believe that banking reforms will prevent this collapse from damaging Vietnam's economy, others fear that severe economic repercussions may eventually follow. Vietnam's rudimentary financial system forces many small businessmen and entrepreneurs to rely on hui.

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Crowing comrades

Article Abstract:

Improvements in economic indicators have given reformers of Vietnam's economy reasons to be proud. Figures for 1st qtr 1992 show that inflation has fallen to 40% compared to nearly 70% in the previous year. Moreover, tight monetary controls have helped improve the value of the Dong which now stands at Dong 11,230 to the US dollar.Two sucessive high-yielding harvests have also helped stabilize rice prices. However, a 100% increase in electricity rates and the large government deficit could lead to another round of inflation.

Column, Statistics, Economic indicators

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Still shackled

Article Abstract:

The challenges that will be faced by Vietnam after the global clothing market is open to quota-free competition in 2005 are discussed. The methods to counteract these changes are also examined.

Forecasts, trends, outlooks, Administration of General Economic Programs, Foreign trade, Trade Barriers, TEXTILE MILL PRODUCTS, Vietnam, Analysis, Forecasts and trends, International trade, Market trend/market analysis, Textile industry, Textile and clothing industry software

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