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Vietnam's new risks from FDI

By Liu Junhong | China Daily | Updated: 2008-07-01 07:56

The recent slump of Vietnam's stock, property and currency markets has caused tension among investors across Asia who still have a fresh memory of the 1997-98 financial crisis.

Though Hanoi moved quickly and "granted" its foreign exchange center a three-day holiday, it hasn't calmed market fears which actually are spreading to neighbors. And clearly, measures that Vietnam has taken may not work since it ignores deviations in its own economic structure.

On July, 2, 1997, the depreciation of Thai baht triggered a regional financial crisis that swept most of Southeast Asian markets and caused serious economic damage to countries in this area. From then on, Southeast Asia's financial market has been very sensitive, worrying if the crisis may recur.

Vietnam's new risks from FDI

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