Vietnam: a development success story? – The Guardian

HANOI — It’s 8am in Hanoi and already thousands of motorbikes, mopeds and scooters flow through the streets. Some sway with the weight of two or three passengers, boxes of merchandise, sacks of rice, or tied-down pieces of furniture that look heavier than vehicle and driver combined. vFor the first-time pedestrian, crossing the road is a daunting experience, but, amid all the apparent chaos, the “system” works. The trick is to just walk when you can, and let the torrent of bikes flow around you. Don’t look left, don’t look right. Just walk This functioning chaos contrasts sharply with the mostly prudent macroeconomic course that Vietnam has been taking. The Doi Moi, or “renovation” economic reforms were launched in 1986, emulating China’s move to open up its markets, after more than a decade of stagnation since the fall of Saigon to the Vietnamese communist forces.