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SoCal
Some of you visit Vietnam and may wonder why Vietnam is a poor country but many people can buy many basic necessities. It is because many Vietnamese have additional money at home in terms of Gold and US Dollars. According to the article below, Vietnam has at least $50 billion hidden-wealth of Gold/U.S. Dollar. This $50+ Billion are not reported and they are in the black market.



Currently, Vietnam GDP is around $100 billion. If we include $50 billion, then the economy should be $150 billion, not $100 billion as officially stated.




http://www.citywire.co.uk/global/is-it-tim...atest-news-list



He also points to another of Vietnam’s little known buffers as a reason for investing; ‘Vietnam has huge hidden wealth- more than $50bn of gold and US$ are held privately outside the formal financial system. This helps Vietnamese hedge inflation, has created a huge net wealth effect and ensures strong retail sale growth during economic turmoil.’
asean.asia
Who schooled you SoCal.

$100B GDP is a flow, and $50B wealth is a stock. You don't add them together and call it $150B GDP.

kiss.gif

QUOTE (SoCal @ Dec 11 2010, 04:26 PM) *
Currently, Vietnam GDP is around $100 billion. If we include $50 billion, then the economy should be $150 billion, not $100 billion as officially stated.

retaxis
QUOTE (asean.asia @ Dec 12 2010, 10:26 AM) *
Who schooled you SoCal.

$100B GDP is a flow, and $50B wealth is a stock. You don't add them together and call it $150B GDP.

kiss.gif

Proof that he is but yet a child
CodyUSAirmenATC
It's common knowledge that most families of inheritance of gold bars buried somewhere.
cuteo
corruption, lack of transparency, and embezzlement? icon_wink.gif
of all the aids and loans she borrowed, not to mention annual oversea remittance, the life of an average Joe in Vietnam has not improved that much, so you have to wonder how or where that money goes.
CodyUSAirmenATC
QUOTE (cuteo @ May 27 2011, 08:46 PM) *
corruption, lack of transparency, and embezzlement? icon_wink.gif
of all the aids and loans she borrowed, not to mention annual oversea remittance, the life of an average Joe in Vietnam has not improved that much, so you have to wonder how or where that money goes.

It went to the children of the commie officials driving their lambos in the capitol while they've done nothing notable their entire life.
OpenForum
QUOTE (CodyUSAirmenATC @ May 28 2011, 04:30 AM) *
It went to the children of the commie officials driving their lambos in the capitol while they've done nothing notable their entire life.


I went back to vn sometime last year and saw a lambogini too I though it was the westerner who drove them. vn I don't think is going anywhere unless they on their own do thing for themselves or learn to or prepare to does not matter how wealthty they are, common how wealthty can vn be.
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