Why Vietnam Is Quietly Becoming Asia’s Next Power – YouTube Dictation Transcript & Vocabulary

1.50 years ago Vietnam was a war torn country that had just begun a painful reunification process today the country is modernizing at a rapid rate growing its economy population and self-made industries this has put it on a path to become Asia's next global economic powerhouse surpassing even Japan by 2050 so why is Vietnam so successful when other countries in Asia have fallen flat to tell Vietnam's story we need to start with the country's very unique and very beautiful [Music] geography vietnam is one of the longest and narrowest countries in the world and is well known for its distinctive S shape stretching over 1600 km from north to south it's a bit similar to Chile though much shorter and within these long narrow borders is an incredible geography that defines the Vietnam of today in the north Vietnam is dominated by the rugged highlands of the anomite range which extend from Laos and form a natural barrier these mountains include some of the highest peaks in Southeast Asia such as Fanipan the tallest mountain in Vietnam at 3,147 m the Red River Delta located in the north provides a fertile low-lying area that has historically supported dense populations and major cities like Hanoi the capital moving south the central region of Vietnam is far more narrow with a coastal plane wedged between the South China Sea and the Anomite range this region more than anywhere else in Vietnam is prone to typhoons and heavy rainfall particularly during the monsoon season daang and Hay Vietnam's large central cities are roughly at the same latitude as Manila one of the most natural disasterprone cities in the world meaning whenever Manila gets hit by a typhoon it's usually on its way to Daang now despite its vulnerability to natural disasters central Vietnam is home to important cities like Daang and Hui and features a mix of agricultural land and forested highlands finally the southern part of Vietnam is dominated by the Mikong River Delta a vast network of rivers canals and rice patties this region is one of the most fertile and productive agricultural zones in the world supporting Vietnam's status as a leading rice exporter ho Chi Min City the country's largest metropolis is situated near this delta and serves as the major economic hub for the entire country but it's Vietnam's extensive coastline which stretches over 3200 km that has proven to be one of the most important geographic elements Vietnam has its coastal regions are dotted with natural wonders such as Halong Bay on the north known for its limestone cars and Fukquac Island in the south a growing center for tourism the country's diverse topography also includes vast caves with Sandong Cave being the largest known cave in the world attracting explorers and researchers alike climate variations are significant across Vietnam due to its latitudinal span and elevation differences the north experiences four distinct seasons while the south has a tropical monsoon climate with wet and dry seasons these climatic variations influence agricultural practices with rice cultivation thriving in the deltas and coffee production flourishing in the highlands all of this geography has defined Vietnam's culture and economy for thousands of years but it's also led to some disasters colonization and wars that have set it back more than most countries Vietnam has had a very challenging history it's been subjected to invasions revolutions colonizations and numerous wars for thousands of years each of which has led to the Vietnam that exists today but first let's go back to when Vietnam first became an independent country vietnam's recorded history dates back over 2,000 years with the emergence of the ancient kingdom of Vanlang ruled by the Hung Kings if you're keeping track this makes Vietnam one of the oldest continuous entities in the world unfortunately for the Vanlang in 111 B.CE China's Han dynasty invaded and annexed northern Vietnam beginning a period of Chinese domination that would last for over a thousand years during this time Chinese culture governance and confusion ideals deeply influenced Vietnamese society despite this there were frequent uprisings such as the famous rebellion led by the Trunk Sisters in 40 CE and later the successful revolt by Neo Quinn in 938 CE which ended Chinese rule and reestablished an independent Vietnamese state following independence Vietnam saw the rise of several dynasties including the Lie Tran and Lee which expanded its territory southward in a process known as Namien also known as the southward expansion this expansion pushed the Cham and Kamur peoples south and further solidified Vietnam's presence in the Meong Delta throughout the centuries Vietnam persevered and continued to resist external invasions from much larger powers even the Mongol Empire which famously took over China and most of Asia was repelled three times by Vietnam then known as the Daviet but then in the 1800s Vietnam faced a new external force European colonialism one that they couldn't hold back beginning in 1858 the French would gradually conquer Vietnam incorporating it into French Indo-China along with Laos and Cambodia under French rule Vietnam underwent significant economic and infrastructure development but at the cost of national sovereignty and economic exploitation the colonial administration prioritized cash crops like rubber and rice while French cultural and political influence reshaped urban centers it was during this time that Vietnam built an extensive railway network that would connect the entire country paving the way for a key part of Vietnam's industrialization and urbanization efforts all while still under the rule of France after World War II Vietnam declared its independence but France not wanting to give up its profitable holdings in Southeast Asia after reacquiring them from the defeated Japanese Empire attempted to reassert control leading to the first Indo-China War the war ended in 1954 with the decisive Vietnamese victory at Dien Bianfu forcing France to withdraw the Geneva Accords temporarily divided Vietnam along the 17th parallel with the communistled Democratic Republic of Vietnam under Ho Chi Min and the USbacked Republic of Vietnam led by Neo Denm this division led to the Vietnam War a brutal conflict between the North and South fueled by cold war tensions the United States fearing the spread of communism heavily intervened in support of South Vietnam eventually invading the country with American and Australian troops the war devastated the country but ultimately North Vietnam emerged victorious in 1975 reunifying the country under communist rule saigon the seat of power in South Vietnam was renamed Ho Chi Men City and Vietnam embarked on a path of reconstruction like many revolutionary governments following the war and reunification Vietnam faced economic hardship international isolation and conflicts with neighboring Cambodia and China however in 1986 the government introduced the most important reform in its history ones that have enabled the Vietnam we know today to thrive modern Vietnam is a country undergoing rapid transformation emerging as one of the fastest growing economies in Asia once struggling under the weight of post-war recovery and exclusionary economic policies Vietnam redefined itself in the modern era and has emerged as a rising industrial and technologic hub drawing comparisons to Japan due to its manufacturing prowess growing middle class and expanding influence in global markets the turning point for Vietnam came in 1986 with the introduction of the Doymoy reforms recognizing the limitations of a centrally planned economy that wasn't working in the global economy the government initiated market oriented policies that encouraged private enterprise foreign investment and integration into global trade networks these reforms while starting off slow eventually led to decades of consistent economic growth transforming Vietnam from an agrarian and poor society into a dynamic industrial economy one of the most significant aspects of Vietnam's rise is its booming manufacturing sector the country has become a key player in global supply chains attracting multinational companies looking for alternatives to China major corporations such as Samsung Intel and Nike have established large-scale operations in Vietnam benefiting from its competitive labor costs improving infrastructure and strategic location in Southeast Asia this shift has fueled the rapid growth of industrial zones in cities like Ho Chi Min City Hanoi and Daen vietnam has also been seen as one of the few winners in the ongoing trade war and trade negotiations between the United States and China as American companies have sensed unease in their ability to safely and cheaply export manufactured goods out of China more have turned to Vietnam as an alternative beyond manufacturing Vietnam has also made significant strides in its tech sector positioning itself as a future leader in innovation and digital transformation the country has seen the rise of homegrown tech companies including FPT Corporation and VNG which are competing on regional and global levels additionally Vietnam has ventured into high-tech manufacturing with its own homegrown car company Vinfast leading the charge in electric vehicle production vinfast aims to compete with international automakers exporting electric cars to North America and Europe signaling Vietnam's ambitions in the global automotive industry and because of the increase in manufacturing and the rise of Vietnam's homegrown tech companies the overall amount of money within the country is increasing in 2024 Vietnam had a GDP of 466 billion making it the 33rd largest economy in the world but just 20 years prior in 2004 Vietnam had a GDP of just $45 billion that's incredible growth and wealth because of this Vietnam's service sector is also expanding at a rapid rate driven by tourism finance and e-commerce in recent years the country has become a major tourist destination drawing millions of visitors annually to attractions like Halong Bay Hoyan and Fukquac Island much of this rise in economic outlook for Vietnam is due to the country's demographic advantage unlike Japan Vietnam is still growing rapidly in population between 1950 and 2020 Vietnam's population increased by almost 75 million people and this growth doesn't appear to be slowing down anytime soon where this benefits Vietnam is that its population tends to be fairly young compared to countries like Japan South Korea Taiwan or China and young people tend to make and spend more money thus increasing the overall economic outlook for the country and with this increase in population Vietnam is becoming more educated further driving its development education and skill development are receiving increased government attention with a focus on science technology engineering and mathematics to meet the demands of a techdriven economy now all of this said challenges remain as Vietnam continues its global ascent for one while the country is growing wealthy that wealth has not been felt equally in fact Vin Group a large Vietnamese conglomerate that controls a wide range of companies including the automaker Vinfast real estate development company Vinhomes pharmaceutical company Vinfa AI company Vin AI and many many more companies has been accused of becoming anti-competitive and cornering the market within Vietnam this has directly led to the income inequality that is so prevalent within Vietnam today so while Vietnam is definitely an ascendant country within Asia it still has a lot of work to do before it reaches the heights set by a country such as Japan today Vietnam is home to just about 100 million people by 2050 it's expected that Vietnam will be home to about 120 million people meanwhile Japan's population is shrinking while it currently has 124 million people Japan's population is expected to fall below 100 million in the same time frame this puts Vietnam and Japan at an interesting crossroad one country is ascendant but dealing with severe income inequality issues and the other is descending but is otherwise financially and economically secure well into the future this could change in the future but as of now Vietnam is looking like it could take the economic and population crown from Japan vietnam is unlike any other place in the world and if you want to see what it's like be sure to check out my travels through the country this week I'm taking the train from Daang to Ho Chi Men City so come join me i hope you enjoyed learning all about Vietnam and why it's becoming so economically important if you did maybe you'd like this video on why Costa Rica has become the dominant Central American country thanks for watching see you next time