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GDP per capita development in Vietnam. The economy of Vietnam is a developing mixed socialist-oriented market economy. [3] It is the 33rd-largest economy in the world by nominal gross domestic product (GDP) and the 26th-largest economy in the world by purchasing power parity (PPP). It is a upper-middle income country with a low cost of living.
While Vietnam has remained relatively conflict-free since its Cambodia days, tensions have arisen in the past between Vietnam and its neighbors, especially in the case of China since both nations assert claims to the Spratly and Paracel Islands - the two archipelagos in a potentially oil-rich area of the South China Sea. Conflicting claims have ...