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 4:53 PM

Physics and Technological Revolutions

As he witnessed the first detonation of a nuclear weapon on July 16, 1945, a piece of ancient Scripture “Bhagwad Geeta” ran through the mind of Robert Oppenheimer: “Now I am become Death, the destroyer of worlds”. Oppenheimer, alongside the likes of Richard Feynman, Enrico Fermi, George Gamow, was part of the star-studded Physicist squad behind the Manhattan Project.

The biggest implications drawn from the end of WW2 for many might have just been the incoming power Struggle between the US and Soviet Union, but for your average American it went to a great length to show that Physicists form a breed of people who can build dangerously effective technology.

That fact, however, would have been evident to anyone with a brisk walk through Human History itself. Physicists have arguably provided the most significant contributions to the Technological Development of our race. From Archimedes building light reflectors to save the Greek Army from Roman Infiltration to the large-scale Ballistic Missile systems made during WW-II, weaponry technology has been highly influenced by physicists in every generation.

But mere list of armaments cannot do justice to the role played by Physics Research in Technological Developments of our society. To get a feel for that, let’s go back to the fathers of Modern Physics as we know it; Sir Isaac Newton and Galileo Galilei. Galileo had his long list of achievements in creating cutting edge technology of the day, ranging from Telescopes to Thermometers & the Magnetic Compass. Sir Isaac for his part was the reason behind the advent of the Industrial Revolution in Great Britain!

The simple Atwood Machines which have today become mainstay material taught to College Freshman and High School Seniors worldwide, were actually the kind of mechanical models on which the large-scale Factory Machines were built. Newton’s laws kickstarted the modern Technological Revolution and ever since then, Physics has been a constant source of inspiration behind all Technology.

The great pioneers in the field “Natural Philosophy” (the physics of today) after Newton continued the trend which their illustrious predecessor had started. The seminal works on Thermodynamics by the likes of Lord Kelvin, Ludwig Boltzmann, James Clerk Maxwell etc. played the decisive part in creating automobile engines and really any technology which dealt with heat (Spoiler Alert- There were a lot of them!). Maxwell’s work on the famous equations on Electromagnetism now named after him played the most significant part in the mission of making Electricity available to everyone (a conquest now just famously remembered for the fight between Nikola Tesla and Thomas Edison).

While one can point out that Theoretical works cannot lead to new Technology on their own, that assertion is only the half-truth. Sure, building technology on the basis of theoretical physics is mostly down to the Engineers, but one cannot underestimate the effect new theoretical developments and their possible uses have on the construction of new technologies. After all, if one was not able to understand the principles of the conversion of mass to energy or Electric & Magnetic Fields are coupled to each other, then expecting the construction of Nuclear Reactors and virtually all Electric Tech today would have been off the table.

So one might ask, what are the new theoretical ideas which can guide the next leap forward technologically? Well, no one can be quite sure of the form which technology will take in even a couple of decades (who would have thought that Server systems designed for efficiently using giant Data in CERN would one day be heavily used for making memes!).

I would go as far as to say that we have not yet completely exhausted the technological possibilities of the Special Theory of Relativity itself, the most prominent example of game changing technology based on that has been GPS Communication systems. One can hence fail to even imagine the kind of technological (and Industrial) progress technologies built on the revealing concepts from General Relativity and Quantum Mechanics can bestow upon us (I’m even refraining to comment on the Quantum Field Theoretic parts!).

Whatever that physics will lead us to is a mystery time will be most suited to answer, but one can see the effects of Quantum Mechanics in the next Computational Revolution itself; Quantum Computing. To put into perspective the extent of development Quantum Computing can bestow upon us, consider the following.

Computational devices today, which are stronger than the computers which put humans to the moon, are fundamentally built upon binary bit systems. From generating Big Bang like Energies in CERN and reaching past Saturn, to making all the knowledge available to everyone has been done in two bits. While Quantum Computers, which are being vividly researched on, can work with virtually infinite bits ! So, hold on tight as exciting new physics promises some large-scale changes on our Civilization as a whole.

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