The Citizens Quality of Life
The United States economy is more balanced than Vietnam’s economy, because it is ran in a way that is best for its citizens. The United States economy is established in a way that will help the citizens and the country prosper, which makes it the better country to live in. Contrary to the U.S economy, the Vietnamese economy is not as well established .Vietnam’s economy affects their citizens in a negative way, which puts a financial burden on their lives and makes it harder for them to live.
U.S stabilized economy
The United States stabilized economy is a key element of their overall success of being the better country to live in. The United States has had their “unemployment rate fall to 5.5 percent, which is …show more content…
According to an article in Tuoitre News, Vietnam’s unemployment rate is 1.9 percent, which is a relatively low number (“Vietnam Listed Among,” 2014, para. 2). Although, this means that many people are employed in Vietnam, many of these same people are self- employed or working short term under contracts, which wages are underpaid (Tran, Nguyen H., Nguyen T., & Thao Ngo, 2012, p.661). Although Vietnam does have a minimum wage, “that has just been increased to 11-16 dollars a month, it only applies to certain job sectors” (“Minimum” 2015, para. 1). This means that many of the citizens working, are either working temporary or self-employed and are underpaid, and the working citizens that are working the jobs that do have a minimum wage, are not making a lot of money. Vietnam also has trouble maintaining stability with their international trading partners. Vietnam’s trade stability has been in and out of crisis points, which is proven in Vu Quang’s table (2009). Vietnam also has a trade deficit that has been occurring for many years that is caused by “Vietnamese domestic producers and their over-emphasis of growth by the government and over-investment by state-owned enterprises, and not by FDI investors who have had a positive trade balance” (p.398). This trade deficit creates a debt for Vietnam’s government that affects …show more content…
The citizens’ quality of life should always be a top priority of any country in which it is not for Vietnam. For example on average American workers make about 21 dollars in 3 hours, which is proven by the U.S minimum wage, Vietnam however, makes 11-16 dollars a month, which was stated in the “Minimum wage to increase” article (2013). What U.S citizens make in 2-3 hours are what Vietnamese citizens make in a whole months’ worth of working Vietnam’s high employment with low wages, and unstable trade is the cause of their unbalanced economy, which overall hurts their people. American citizens’ quality of life is a top priority in the United States, which is proved by its economic assets. Although, the United States economy is not perfect and still has the need for improvements, in comparison to Vietnam’s economy, the U.S is doing much better in the aspects of their citizens’
The United States economy is more balanced than Vietnam’s economy, because it is ran in a way that is best for its citizens. The United States economy is established in a way that will help the citizens and the country prosper, which makes it the better country to live in. Contrary to the U.S economy, the Vietnamese economy is not as well established .Vietnam’s economy affects their citizens in a negative way, which puts a financial burden on their lives and makes it harder for them to live.
U.S stabilized economy
The United States stabilized economy is a key element of their overall success of being the better country to live in. The United States has had their “unemployment rate fall to 5.5 percent, which is …show more content…
According to an article in Tuoitre News, Vietnam’s unemployment rate is 1.9 percent, which is a relatively low number (“Vietnam Listed Among,” 2014, para. 2). Although, this means that many people are employed in Vietnam, many of these same people are self- employed or working short term under contracts, which wages are underpaid (Tran, Nguyen H., Nguyen T., & Thao Ngo, 2012, p.661). Although Vietnam does have a minimum wage, “that has just been increased to 11-16 dollars a month, it only applies to certain job sectors” (“Minimum” 2015, para. 1). This means that many of the citizens working, are either working temporary or self-employed and are underpaid, and the working citizens that are working the jobs that do have a minimum wage, are not making a lot of money. Vietnam also has trouble maintaining stability with their international trading partners. Vietnam’s trade stability has been in and out of crisis points, which is proven in Vu Quang’s table (2009). Vietnam also has a trade deficit that has been occurring for many years that is caused by “Vietnamese domestic producers and their over-emphasis of growth by the government and over-investment by state-owned enterprises, and not by FDI investors who have had a positive trade balance” (p.398). This trade deficit creates a debt for Vietnam’s government that affects …show more content…
The citizens’ quality of life should always be a top priority of any country in which it is not for Vietnam. For example on average American workers make about 21 dollars in 3 hours, which is proven by the U.S minimum wage, Vietnam however, makes 11-16 dollars a month, which was stated in the “Minimum wage to increase” article (2013). What U.S citizens make in 2-3 hours are what Vietnamese citizens make in a whole months’ worth of working Vietnam’s high employment with low wages, and unstable trade is the cause of their unbalanced economy, which overall hurts their people. American citizens’ quality of life is a top priority in the United States, which is proved by its economic assets. Although, the United States economy is not perfect and still has the need for improvements, in comparison to Vietnam’s economy, the U.S is doing much better in the aspects of their citizens’