Vietnamese Model of Neoliberalism: Accumulation by Dispossession
DOI:
https://doi.org/10.69598/artssu.2022.489.Keywords:
neoliberalism, Vietnamese economy, accumulation by dispossessionAbstract
This article aims to criticize the Vietnamese model of neoliberalism. An analysis reveals that Doi Moi policy drove the Vietnamese economy in a neoliberal fashion by engaging its economy with international trade and investment.This transition resulted in remarkable economic growth, but at the expense of accumulation by dispossession. The accumulation exposes environmental degradation which could pose a fatal risk. In addition, the profitability of the economy is characterized by appropriation of absolute surplus value which relies on a relatively high degree of forced overtime work and other kinds of work violation. The accumulation manifests its class contradiction through frequently unorganized or wildcat protests. This struggle continues within the structure of weak labour containing unions and a health system which places the financial burden on individuals.
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