Growth and the power of positive thinking

eaders give Viet Nam News their views on the optimism Vietnamese people express about the country's prospects in the coming years in recent polls.

William Ribbing, American, Florida

When we contrast the negativity expressed in developed countries that previously held strong economies and lost that strength through the impact of the changes that have taken place, coupled with devaluation of their currencies due to the global recession, views are gloomy. In today's world of fast paced actions, people are expecting a rapid recovery; however they are not remembering the Great Depression. It took many years to recover and for the world economy to substantially grow.

People in developed countries could learn a great deal from the people of Viet Nam. Vietnamese people are both tolerant and patient; which is in marked contrast with people in developed countries.

Present generations are impatient and hope for immediate change, however for the people of countries such as Viet Nam, where poverty and slow progress of a weak economy are prevalent, people are more patient and tolerant of expectations, and therefore hold a strongly optimistic view. Most Vietnamese are used to living with low wages and with very few worldly goods.

Economic recovery is basically the buying power of one currency against another. With increasing monetary controls, Viet Nam's economy has continuously improved by holding inflation in check, while the rest of the world is still in the slow recovery stage. Increases in the required minimum wage have also helped with Viet Nam's improved economy in comparison to the rest of the world.

Harry Dickson, Singaporean, HCM City

A poor man who thinks he will make US$500 every month in 2011 will feel optimistic. A wealthy businessman who thinks he will make $10,000 per month might feel depressed. It's all a matter of perspective. Who would I rather be? You do the maths.

I cannot comment on other developing countries as I have never lived or worked in them. But I understand why Vietnamese are optimistic about their future. As a country, Viet Nam has come a long way over the past 20 years. Vietnamese now have higher living standards.

But Viet Nam still has a long way to go, much longer than it has travelled so far. Vietnamese need to ask themselves whether what they have achieved so far can be maintained and built upon.

I spoke to some Vietnamese friends and they were confident of the future. They pointed out the large number of imported and branded goods available, luxury automobiles, and the increasing ease of Vietnamese to purchase motorbikes. But these are all consumer goods, imported from abroad. Running a huge trade deficit is fine if the country is importing investment goods and technology for the future. Bentley, Porsche, Louis Vuitton and Prada are not going to help Viet Nam develop. All they do is to cater to the vanity of Vietnamese consumers.

Viet Nam has a primary economy. The minerals dug from the ground or from under the sea will run out one day. Agricultural crops are renewable, but relying on them is too uncertain – the weather is too unpredictable and natural disasters can occur anytime to wipe out any harvest.

On the industrial front, Viet Nam is still attractive to FDI mainly for cheap labour, not much else. Rather than competing on the basis of being cheap, which is taking the easy way out, Viet Nam needs to consider ways to add value.

Rob Vermeulen, American, North Carolina

Today, many in Viet Nam are feeling better off due to an improved economy. Americans want to do more business with Viet Nam, to reduce the risk of working only with China. So, Vietnamese people have reason for being optimistic, considering the increase in business from America.

Another reason for higher levels of optimism in Asia is increased social support. People feel more optimistic when "everyone is in it together". For example, if everyone is affected by a natural disaster like a flood, or shared poverty, people remain optimistic, even through the difficulty. But with inequality between rich and poor, especially in the individualistic West, people easily get depressed, and lose their optimism.

Piet Bels, Belgian, HCM City

Western nations took 150 years to develop into what is now commonly called a ‘developed' nation. Over that period of time and gradually, society shape that acted as the basis for development.

Within that framework, the ideas for a society with transparency, social security, openness, education, public safety and traffic organisation, urban policy, standard prices, and the payment of tax to the State for services, gradually took shape.

Of course, not all went well, and comparing is never a good thing, but I think one might say with a high degree of certainty that the feel of ‘economic boom' in a city like HCM City will not persist over a longer period of time as long as the focus remains on instant profit. When will we see efforts of the government in awareness campaigns? Where are the signs to respect pedestrians and cyclists, where are the campaigns for the Rule of Law ? Where are the guides to economic policy that people can read? Where are the offices to help the public?

The divisions in this country can only be overcome when officials lay out open, transparent and trustworthy policies for the citizens of this country. The race for gain is so fast here, but where are the people that will promote a transparent and humane society?

Steve Kendrick, British, HCM City

You seem to have free credit in Viet Nam i.e. Official Development Aid (ODA) which I find hard to believe and hard to understand, where as Europe is up to its neck in debt due to the disgraceful misuse of money by the EU banks and governments and absolutely no ‘free' credit; hence the reason for optimism in Viet Nam – due to ODA; which means investment, economic growth, more jobs and the much needed spread of wealth, and desperation and a dour economic outlook in Europe.

Europe has simply borrowed and spent too much, where as Viet Nam, if it can control its inflation, can look forward to developing its economy, just as long as it doesn't grow too quick and can sustain its own growth, which I think it can.

Wayne Chornohus, Canadian, HCM City

In times of plenty, optimism is normal. Viet Nam has been growing for the last two decades and the population have accepted growth and prosperity as the norm. Most developed countries have experienced one or more recessions in the same time period and a large percentage of the population is personally aware of changing fortune.

The Vietnamese are a bit complacent when they have a good income and tend to squander it. There will be a correction at some time and the new, larger middle class will experience the shock many in the West know only too well. If the banking system and dong can be stabilised, this would help the average person find a better place to put their savings than their mattress.

For now Viet Nam is well respected internationally for its rapid growth and stable government. The new government must move quickly to maintain people's confidence as that confidence is a cornerstone of economic growth. The purchasing frenzy we see now as Tet approaches will supply manufacturers with more reasons to consolidate quality and expand both nationally and internationally.

Generally I don't think optimism or the lack thereof is different from country to country except that it depends on that countries' current fortunes.

Patrick Moran, British, HCM City

You seem to be under the impression that optimism and positive thinking are synonymous. They are not. They are completely different.

One definition of madness is repeating the same action and expecting a different result. That is optimism! It may, or may not, be related to reality. The best known is whether you regard the glass as half full or half empty. Both are facts. A much better description is that a positive thinker sees an opportunity in every problem but a negative thinker sees a problem in every opportunity. — VNS