Vietnam’s K-shaped economic boom

Vietnam’s rapid headline growth is driven almost entirely by foreign‑invested and government‑favoured conglomerates, leaving domestic small-to-medium enterprises and workers behind. Foreign-invested enterprises dominate exports and rely on low‑wage assembly labour, limiting technology transfer and local upgrading. Policy support for national champions further squeezes household businesses, producing a K‑shaped economy where prosperity concentrates at the top and everyday Vietnamese see little benefit.

By East Asia Forum – Vietnam’s K-shaped economic boom