Vietnam Model: Vietnam and Korea

vietnam model: It should be acknowledged that North Korea and Vietnam have something in common historically, according to Global Times China. But as a socialist country, Vietnam rolled out reforms in the 1980s and normalized ties with the US in the 1990s, which was later upgraded to a comprehensive strategic partnership. While it is not realistic for North Korea to completely copy the Vietnam model, given its different national conditions and the global environment, Vietnam's experiences may indeed offer some useful insights for North Korea. It is currently one of the fastest growing economies in Asia, with annual GDP growth around 7 percent. It is widely believed that Vietnam's development has greatly benefited from the improved relations with the US. To a certain extent, the US appears willing to use Vietnam's success to convince North Korea into denuclearization. Moreover, Vietnam's high degree of diplomatic flexibility and market openness has earned it close economic relations with the US. Although Vietnam has maintained a trade surplus with the US, the latter hasn't imposed too many restrictions on Vietnam due to the small trade volume. (news.financializer.com). As reported in the news.