Friday, July 24, 2020

Can Vietnam leverage its COVID-19 success for economic growth?

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Inshiya Nalawala

Article Title

Can Vietnam leverage its COVID-19 success for economic growth?

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Global Views 360

Publication Date

July 24, 2020

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A policeman helping a rider fix their mask

A policeman helping a rider fix their mask | Source: Đài Truyền Thanh TPST via Wikimedia

While the entire world is battling with COVID-19, Vietnam, in a country of over 100 million recorded just 330 cases as of early June 2020 and zero death in May 2020.

A professor at Nagasaki University’s Institute of Tropical Medicine Vietnam Research Station said that "Vietnam has no special test kits or drugs to treat the disease, but the government decided to do what it had to do at an early stage and put that plan straight into practice."

Vietnam was quick in its action. As soon as the first case was confirmed, the government had called upon measures for serious quarantine, implemented strict border control measures, and curbed unnecessary local movement. Close to a million people were isolated to halt the spread of further infections.

The strict measures helped Vietnam to quickly control the COVID situation and put the focus back on the economy. The mainstay of Vietnam's economy, garment export and tourism witnessed steep fall resulting in loss of employment to over 3.5 million people in the first half of 2020. Still Vietnam’s economy has expanded by 0.36% over last year in the same period unlike other countries in the region where it contracted as compared to last year. The annual GDP growth for Vietnam in 2020 is expected to be around 2.7% to 3% which again is the best in the region.

Vietnam , today is the safest country in the region to travel, work, or stay amidst the worldwide COVID pandemic. It is being favourably considered as an alternative destination by many companies who are looking to cut down their reliance on China in their supply chain.  The Free Trade Agreement (FTA) between the European Union and Vietnam which will be operational in August, may help Vietnam grow its exports.

Apart from export led growth, the tourism sector may also grow significantly as the other major tourist destinations in the region, Singapore and Thailand, are still battling with the pandemic, while Vietnam has successfully overcome the same.

The government is also looking to support the local business by slashing the corporate income tax to 30 percent which increased the liquidity for some sectors of economy. Special tax benefits and deferred tax payments(in some cases) are also in  line for small and medium enterprises (SMEs) which constitutes almost 97% of all the businesses in Vietnam. All these measures are expected to lead to a 7% GDP growth for Vietnam in 2021.

The miraculous recovery from the pandemic, government incentives to industry, and the willingness of many companies to relocate from China present such a perfect mix of opportunities for Vietnam to leap ahead and become the fastest-growing economies in SouthAsia. What remains is to see how fast and how effectively the country is able to act while this window of opportunity is open.

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February 4, 2021 4:46 PM

Electoral Processes in the US: Electing the President

The USA electoral process is a complex one; caucuses and primaries, followed by national conventions, general elections, formation of the electoral college and the selection of the president. Each step of this process has a lot of subtleties, which vary widely from state to state.

Caucuses and Primaries: This is the initial step of the selection of president. This stage of choosing occurs within a political party, where the party picks the candidate to rally behind.

In the state “Primary”', the registered members of political parties cast votes to allocate delegates for the presidential nominees of their parties. In some of the states this is done through caucuses, where groups are formed behind various potential candidates and there is discussion and persuasion between various groups. Republican party allocates all the delegates directly through primary or caucus, however the Democratic party allocates some Super-Delegates over and above the directly elected ones. These selected or allocated delegates are sent to the national party convention to represent their nominees.

In the process occurring between the primaries and caucuses to the selection of the potential electors is decided entirely by the party. The democrats, after the 1968 democratic convention, made a formal mechanism to reduce power of party leaders over the selection process and ways to represent minorities in the electors. This, however, backfired for the party as the delegates selected by primaries voted according to candidates and not the party, which led to the 1972 democratic Presidential candidate to win in only one state. The rules were then reformed and the concept of Super-Delegates was introduced. The Republican party also followed a somewhat similar trajectory, but did not impose as many restrictions on the delegate selection process, and never took measures to include the minorities.

National Conventions: Each parties’ delegates then choose a final presidential nominee at a national party convention. The nominee picks another person, who would be the vice president in the case the nominee wins. Here, there can be pledged or unpledged delegates; pledged ones are bound to support the potential candidates they chose in the previous round, while the unbound, or superdelegates can support anyone they choose.

Electoral College: After each of the parties have selected their presidential candidate, the candidate campaigns across the country to gain favor from the general public. There are speeches, rallies, debates, and other outreach activities, in which the candidates promote themselves. Meanwhile, the parties select some respective potential electors in each state, which are the people who get the last vote in the selection of the president. Each party forms a slate of potential electors according to the state..

General Election:After this, the general election occurs, in which the public votes for a president. However, the public does not directly vote for the president; they vote for the slate of electors for that political party for that state.

After the general election, the Electors are appointed to the state in two ways.. Electors from all the states then form the electoral college, which is the body that votes for the president. The electors are not legally bound to vote for the party they are pledged to, but can be fined or disqualified if they defect. Throughout USA history, though, more than 99% of the electors have voted as pledged.

The electoral college presently has 538 electors and the candidate who wins 270 or more electoral votes, wins the Presidential election.

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