Unit 7: Economic Reforms - Vocabulary

Exercise 1: Fill in each numbered blank with one suitable word or phrase. Vietnam is considered a third world country, its people live (1) _____ poverty by the millions. After the (2) _____, Vietnam's economy remained dominated by small-scale production, low labor productivity, (3) _____, material and technological shortfalls, and insufficient food and (4) _____ goods. The Doi Moi reforms that were instated in 1986 have shed new light and added new features to the Vietnamese economy. (5) ____ Vietnamese Communist Party plays a leading role in establishing the foundations and principles of communism, mapping strategies for economic development, setting growth targets, and (6) _____ reforms. Doi Moi combined government planning with free-market incentives and (7) _____ the establishment of private businesses and foreign investment, including foreign-owned enterprises. By the late 1990s, the success of the business and agricultural reforms ushered in under Doi Moi was evident. (8) _____ than 30,000 private businesses had been created, and the economy was growing at an annual (9) _____ of more than 7 percent. Farming systems research and the international development projects are a source of new hope for the people of Vietnam. If these recent projects are successful and Doi Moi continues on its current path the Vietnamese people may (10) _____ a new standard of living. More reforms like Doi Moi need to take place in order to create a more stable Vietnamese future. 

Exercise 2: Error Identification