Consider the following statements:
- Vietnam has been one of the fastest growing economies in the world in the recent years.
- Vietnam is led by a multi-party-political system.
- Vietnam’s economic growth is linked to its integration with global supply chains and focus on exports.
- For a long time, Vietnam’s low labour costs and stable exchange rates have attracted global manufacturers.
- Vietnam has the most productive e-service sector in the Indo-Pacific region.
Which of the statements given above are correct?
(a) 2 and 4
(b) 3 and 5
(c) 1, 3 and 4
(d) 1 and 2
Explanation
The correct answer to the question is (c) 1, 3, and 4. Here’s a breakdown of each statement:
- Vietnam has been one of the fastest-growing economies in the world in recent years: This statement is correct. Vietnam has experienced significant economic growth, with its GDP growth rate averaging 6.20% from 2000 until 2023. In 2022, Vietnam’s GDP growth rate reached 8.02%.
- Vietnam is led by a multi-party-political system: This statement is incorrect. Vietnam is an authoritarian state ruled by a single party, the Communist Party of Vietnam (CPV).
- Vietnam’s economic growth is linked to its integration with global supply chains and focus on exports: This statement is correct. Vietnam’s economic growth is associated with its integration into global supply chains and its focus on exports. The country has attracted top technology brands like Intel, Samsung, and Xiaomi to set up supply chains in the country.
- For a long time, Vietnam’s low labor costs and stable exchange rates have attracted global manufacturers: This statement is correct. Vietnam has low labor costs and stable exchange rates, which have attracted global manufacturers.
- Vietnam has the most productive e-service sector in the Indo-Pacific region: This statement is incorrect. Vietnam’s e-service sector is not the most productive in the Indo-Pacific region.
Learn more:
- Vietnam has experienced rapid economic growth, transforming from one of the world’s poorest nations to a middle-income economy in one generation.
- The country’s economic reforms since the launch of Đổi Mới in 1986 and beneficial global trends have contributed to its development success.
- Between 2002 and 2021, Vietnam’s GDP per capita increased 3.6 times, reaching almost US$3,700.
- Vietnam’s economic growth is expected to rebound to 6.5% in 2024.
- The country aims to become a high-income country by 2045, with a focus on greener and more inclusive growth.
- Vietnam’s political system is an authoritarian state ruled by the Communist Party of Vietnam (CPV), with the People’s Army of Vietnam having significant influence in the political system.
- The country has attracted top technology brands like Intel, Samsung, and Xiaomi to set up supply chains in the country, thanks to its integration with global supply chains and focus on exports.
![The Supreme Court has banned mining in the Aravalli Hills to stop degradation the forest cover and to maintain ecological balance. However, the stone mining to still prevalent in the border district of the affected State with connivance of certain corrupt forest officials and politicians. Young and dynamic SP who was recently posted in the affected district promised to himself to stop this menace. In one of his surprise checks with his team, he found loaded truck with stone trying to escape the mining area. He tried to stop the truck but the truck driver overrun the police officer, killing him on the spot and thereafter managed to flee. Police filed FIR but no breakthrough was achieved in the case for almost three months. Ashok who was the Investigative Journalist working with leading TV channel, suo moto started investigating the case. Within one month, Ashok got breakthrough by interacting with local people, stone mining masia and government officials. He prepared his investigative story and presented to the CMD of the TV channel. He exposed in his investigative report the complete nexus of stone mafia working with blessing of corrupt police and civil officials and politicians. The politician who was involved in the mafia was no one else but local MLA who was considered to be very close to the Chief Minister. After going through the investigative report, the CMD advised Ashok to drop the idea of making the story public through electronic media. He informed that the local MLA was not only the relative of the owner of the TV channel but also had unofficially 20 percent share in the channel. The CMD further informed Ashok that his further promotion and hike in pay will be taken care of in addition the soft loan of 10 lakhs which he has taken from the TV channel for his son’s chronic disease will be suitably adjusted if he hands over the investigative report to him. [2022]](https://www.iasexpress.net/wp-content/uploads/content-views/cvp_default_image-600x300.png)
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