Consider the following statements : 1. Vietnam has been one of the fastest growing economies in the world in the recent years. 2. Vietnam is led by a multi-party political system. 3. Vietnams economic growth is linked to its integration with global supply

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Q: 67 (IAS/2022)
Consider the following statements :
1. Vietnam has been one of the fastest growing economies in the world in the recent years.
2. Vietnam is led by a multi-party political system.
3. Vietnams economic growth is linked to its integration with global supply chains and focus on exports.
4. For a long time Vietnams low labour costs and stable exchange rates have attracted global manufacturers.
5. Vietnam has the most productive e-service sector in the Indo-Pacific region.
Which of the statements given above are correct ?

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,127,75,15,26,127,34

keywords: 

{'economic growth': [0, 0, 3, 5], 'economies': [0, 1, 0, 7], 'vietnams': [0, 0, 0, 1], 'vietnam': [1, 1, 15, 20], 'long time vietnams': [0, 0, 0, 1], 'exports': [0, 0, 2, 1], 'global supply chains': [0, 0, 0, 1], 'stable exchange rates': [0, 0, 0, 1], 'global manufacturers': [0, 0, 0, 1], 'pacific region': [0, 0, 0, 5], 'indo': [8, 1, 6, 20]}

Statement 1 is correct. Vietnam has been one of the fastest growing economies in the world, with an average growth rate of around 6-7% per annum in the last decade.

Statement 2 is incorrect. Vietnam is led by a single-party political system, with the Communist Party of Vietnam being the only legal political party.

Statement 3 is correct. Vietnam's economic growth has been largely driven by its integration with global supply chains and its focus on exports, particularly in the manufacturing sector.

Statement 4 is correct. Vietnam's low labour costs and stable exchange rates have been a major factor in attracting global manufacturers to set up their production facilities in the country.

Statement 5 is incorrect. While Vietnam has a thriving e-commerce sector, it is not the most productive e-service sector in the Indo-Pacific region.

 

Preparing for Future Exams: Learning from the Analysis of Past Questions

topics:

  • Vietnam's economy: growth, drivers, sectors, and reforms
  • Political system of Vietnam: structure, parties, and elections
  • Vietnam's integration with global supply chains: opportunities and challenges
  • Vietnam's e-service sector: growth, productivity, and potential

Sources that can be referred to include:

  • Government of Vietnam websites and reports
  • World Bank reports on Vietnam's economy and development
  • International organizations such as the International Monetary Fund (IMF) and the Organisation for Economic Co-operation and Development (OECD)
  • Articles and research papers in academic journals and business magazines

Some relevant chapters from NCERT and reference books are:

  • NCERT Class 12 Economics textbook: Chapter 10 - Comparative Development Experiences of India and Its Neighbors
  • India and Southeast Asia: Strategic, Economic and Cultural Linkages edited by Avtar Singh Bhasin and others: Chapter 4 - Vietnam's Economic Development: An Overview

Related concepts that can be studied include:

  • Economic growth and development
  • Export-led growth and global integration
  • Political systems and governance
  • Labor markets and exchange rates
  • Digital economy and e-services

It is not feasible to study every possible topic in advance, especially in the case of current affairs questions. Such questions are typically based on recent events and trends. Therefore, it is crucial to select specific topics from current affairs by scanning newspapers and magazines and then study the relevant information in detail, cross-referencing with other theoretical materials. Attempting to cover every possible topic beforehand is impractical and may not yield desirable results. Therefore, it is recommended to focus on understanding the key concepts and current trends in a few selected areas rather than trying to cover everything