Shaking off the legacy of coloniza-tion and long, brutalizing conflicts is hard—and forging an uninterrupted pathway to modernity, perhaps even harder. Only a handful of nations have succeeded at both. Their winning formula? Usually some combination of strong leadership and good gover-nance, a sense of common purpose and future orientation, a reliance on mar-kets to allocate resources, and active engagement with the world on trade, investment, and knowledge flows. Since the launch of the Đổi Mới(eco-nomic renovation) reforms in the late 1980s—to move from a closed, cen-trally planned economy to a globally integrated, socialist-oriented market economy—Vietnam has deployed these ingredients to good effect.
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