Paul Krugman was in Hanoi today and I missed it. Then again, there was apparently no press access — he was meeting with two Deputy Prime Ministers — so I guess everybody besides them missed it. He gave a public talk a couple of yesterday, but that was down in HCMC.
So, what can Vietnam do toward that recovery?
“Not a lot under the circumstances,” said Krugman. “Pray that the bigger economies get their act together.”
Is this really so? Because if it is, then counting on trade to grow your economy seems like a risky, short-term bet. Isn’t there any way for a poor country to grow towards wealth when wealthy countries are in a downturn? Maybe not.
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