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Topic: "Opportunities and challenges of Vietnam when acceding to WTO"

Thảo luận trong 'CLB Anh Văn' bắt đầu bởi Huyspkt, 7 Tháng mười hai 2006.

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    <span style="font-size:10pt;line-height:100%">Opportunities and challenges of Vietnam when acceding to WTO</span>

    What will Vietnam benefit from WTO membership?

    The biggest advantage is that Vietnam will no longer be subject to discrimination1 in the export of its goods. Vietnam will be able to enter the markets of 149 other members on an equal basis. Vietnamese exports will now be protected in trade disputes2.

    WTO membership will alter how the Vietnamese market is perceived. It will now become more attractive to foreign investors who are familiar with WTO compliant regimes. Foreign investors will introduce more modern technology and better business practices; this will increase production in Vietnam, develop a local market, and create employment opportunities. The development of a local market will provide the Vietnamese consumer a better choice of higher quality goods and services than previously3.

    At the same time, all of Vietnam’s economic sectors will be able to produce and compete on an equal basis and engage in business planning for the long-term. The state sector, for example, will have to end subsidies4. This will encourage more foreign investment in Vietnam and the development of its private sector.

    What challenges that WTO membership will bring to Vietnam?

    There are six major challenges.

    First, Vietnamese firms are known for poor quality, obsolete5 technology, high prices, weak distribution networks and deficient knowledge of the legal system. When WTO membership comes into effect, Vietnamese businesses will likely loose market share and enter a period of rapid adjustment.

    Second, many Vietnamese enterprises and businesses will be unfamiliar with the new WTO rules and practices. The existing legal and regulatory regime will be modified even more greatly. During the initial6 period, these businesses will come under severe7 competition as local managers and employees embark on a steep learning curve to adjust to the new environment. Vietnamese firms risk losing in legal disputes.

    Third, the changing of the rules in Vietnam will pose a stiff8 challenge for Vietnam’s service sector which does not have the capital, technology or business experience of its foreign counterparts. Vietnam’s system of distribution for the national market will be severely challenged by foreign companies.

    Fourth, all of Vietnam’s domestic industries will have higher levels of competition. They will have to adjust to produce quality goods and services or go bankrupt9. Sectors that have weak competitiveness like services, steel, automobile assembly and agriculture will come under threat. State monopolies10 like telecommunications and electricity will come under pressure to open up. Vietnamese firms risk being bought up11 by foreign companies.

    Fifth, bankruptcy12 will raise problems of unemployment and social unrest13... The flow of foreign capital could, in certain circumstances, produce financial instability.

    Sixth, rapid change in the Vietnamese economy could continue to produce environmental degradation14.

    Question for discussion:

    1. What do you know about WTO?
    2. What’s your feeling with occasion of our country?
    3. What should Vietnam do to overcome these challenges?

    Discrimination: Phân biệ đối xử

    disputes : Tranh luận

    previously: Trước đây

    subsidies: tiền trợ cấp

    obsolete: lỗi thời

    initial: Ban đầu

    severe: Khắc khe

    stiff: khắt nghiệt

    bankrupt: phá sản

    monopolies: độc quyền

    bought up: mua toàn bộ

    bankruptcy: phá sản

    unrest: lo âu

    degradation: giảm sút

    adjust: dàn xếp

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