The Intelligence from The Economist Get rich, quick: Vietnam’s next revolution
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May 23, 2025 
Join Ethan Wu, Asia business and finance editor, Shoshank Joshi, Defense editor, and Anne Rowe, Obituaries editor, as they delve into Vietnam's ambitious economic transformation led by General Secretary Tholam. They discuss the challenges of avoiding the middle-income trap while navigating political reforms and rising costs. The team also examines the U.S. Army's significant restructuring efforts amid modern warfare demands, and they recount the ingenious use of duct tape during the Apollo 13 rescue, showcasing innovative problem-solving in crises.
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US Army's Radical Modernization
- America's Pentagon is undergoing a major army reform similar to post-Vietnam changes.
- A leaner, tech-enabled military aims to outmatch adversaries using drones and AI.
Vietnam's Economic Growth Challenges
- Vietnam's manufacturing-led growth model is reaching its limits due to rising labor costs and external risks.
- Leadership urgently needs an economic overhaul to avoid the middle-income trap and drive future growth.
Vietnam's Innovation and Control Dilemma
- Vietnam's private sector is too isolated, failing to integrate with multinational supply chains.
- Political control conflicts with the need for innovation and a free society to propel economic transformation.