Prelims 2022 · Economy · Question 67
Consider the following statements: 1. Vietnam has been one of the fastest growing economies in the world in the recent years. 2. Vietnam is led by a multi-party political system. 3. Vietnam's economic growth is linked to its integration with global supply chains and focus on exports. 4. For a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers. 5. Vietnam has the most productive e-service sector in the Indo-Pacific region. Which of the statements given above are correct?
Answer
1, 3 and 4
1. Correct. Vietnam has been among the fastest-growing economies in recent years, with strong GDP growth driven by manufacturing and exports.
2. Incorrect. Vietnam is not a multi-party system; it is a one-party socialist republic led by the Communist Party of Vietnam.
3. Correct. Its growth is closely tied to integration into global supply chains, especially electronics, textiles, and other export-oriented manufacturing.
4. Correct. Low labour costs and relatively stable exchange-rate conditions have long helped attract foreign manufacturers to Vietnam.
5. Incorrect. There is no standard, accepted basis to say Vietnam has the most productive e-service sector in the Indo-Pacific; this statement is not factually established.
Hence, the correct statements are 1, 3 and 4.