we can officially say that Vietnam is wealthier than Singapore and Malaysia this year. Probably thanks to the China-US trade war, Vietnam got a boost in GDP. I think Vietnam will surpass Philippines and Thailand in the next 5-10 years. Indonesia will probably always be first because of the sheer size of their population.
Vietnam’s estimated GDP of $340.6 billion this year could exceed that of Singapore by nearly 1 percent for the first time, the IMF says.
Việt Nam cố lên! I genuinely believe that Vietnam would be richer than Thailand and the Philippines in the present-day if Vietnam wasn't significantly set back by the war and the events that followed. The growth Vietnam has had in the past decade has been amazing! Because of the US-China trade war, many companies moved their factories to other countries like Vietnam. I also read in a different article that Vietnam's economy has been helped this year by the fact that many around the world are staying home and electronic purchases have increased because of that. A lot of electronics are made in Vietnam now like the Switch 😀 I am optimistic for Vietnam! I don't know how Thailand's economy will be in the upcoming years. There have been large political protests there against the government. Their economy could take a huge hit because of the unrest combined with the pandemic and the decrease in tourism.
Good on Vietnam! :) Glad to hear Vietnam is becoming a more wealthy nation. It deserves the money too, the country can use it for a lot I imagine.
It's impressive how fast Vietnam is growing! When I get back to my hometown, I bet I won't recognize most of my surroundings.