Wish you’d jumped on the China boom 20 years ago? Here’s your second chance in Vietnam.

reminiscences of a stock operator pdf

Hanoi, Vietnam
July 17, 2015

As Europe burns, Puerto Rico sinks, and China violently gyrates, it’s nice to know there are still some exciting bright spots of growth in the world.

Vietnam is certainly one of them.

The first thing you should know about Vietnam is that it’s a really wonderful place to spend time.

I’ve always loved it here. The food is one of the best parts, heavily influenced by the French occupation of Indochina. It’s incredible.

Hanoi is one of the most picturesque capitals in Asia, with gorgeous French colonial architecture and a plethora of manicured lakes throughout the city.

And the nearby coastline is also one of the most breathtaking in the world; it looks like something out of Avatar.

But what’s really interesting about Vietnam is the growth potential here.

As China transitions into being a more developed economy, they’re no longer able to be the world’s cheapest manufacturers of lower-end products anymore.

Many of the cheaper goods that China used to produce like clothing are now being manufactured here (or in Cambodia).

And that’s the reason I’m here; we’re in talks to acquire an Australian-based business, and I am considering Vietnam as a potential location for the CEO to move the manufacturing operations.

Manufacturing is cheap here due to the low costs and plentiful workforce; there are over 90 million people in Vietnam, and the population is one of the youngest in Asia.

That’s pretty significant given that the life-expectancy here is higher than any developing nation on the continent.

This is a strong sign of future economic growth. Because as young populations age, their disposable income tends to rise. That boosts living standards dramatically.

You can see that already happening here; Vietnam is in what I call its ‘motorbike phase.’ I’ll explain–

If you visit incredibly poor countries across Africa, for example, you’ll see most people walking to get from point A to point B. Or if they’re really lucky, they have access to a bicycle.

But as an economy progresses and grows wealthier, transportation is one of the first things people upgrade.

So then comes the motorbike phase.

That’s where Vietnam is now. Tens of millions of people have swapped their bicycles for motorbikes. And you can see it everywhere.

It’s also at this point that people start buying other middle-class luxuries– small air-conditioners, laptops, etc.

The next stage in development is the small car phase; this is what we’re seeing in China, which has now become world’s #1 automobile market.

Then you have the big SUV and sports car phase, as we see in developed nations like the United States.

Finally, it all comes full circle in the end, with developed countries like Denmark and the Netherlands going back to walking and bicycles. Though this time it’s by choice, not out of poverty.

Vietnam is eager to keep moving up. And the government recently passed some incredibly favorable laws to provide incentives for foreign investors to come here.

Foreigners, for example, can now own and control Vietnamese companies. This is a huge benefit which promises to be a major economic boon in coming years.

Yet despite all of this potential, the Vietnamese stock market is quite cheap.

Some of the largest companies in Vietnam trade at single-digit P/E ratios, and far less than their book value. Yet they’re profitable and often pay dividends in the 4% to 6% range.

I highly doubt that’s going to last. But for now Vietnam is an overlooked oasis, just like Colombia and some of our other favorites.

I think the growth trajectory here will be very much like China’s has been over the last decades. In fact, I think Vietnam is very much like China was 15-20 years ago.

So if you missed the China boom, don’t let Vietnam pass you by. It’s a place that should definitely be on your radar.

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About the Author

Sovereign Man
Simon Black is an international investor, entrepreneur, permanent traveler, free man, and founder of Sovereign Man. His free daily e-letter and crash course is about using the experiences from his life and travels to help you achieve more freedom.

71 Comments on "Wish you’d jumped on the China boom 20 years ago? Here’s your second chance in Vietnam."

  1. should be the other way around

  2. Vietnamese government has continuously stirred up the hatred against China and Chinese people to boost their people’s nationalism. That is why there are so many protests against Chinese-investing companies in there recently. It proves that Vietnamese government and its people never respect international laws. They will do whatever nasty things against the “enemy” that their government want to label and target its guns at.

    Foreigners should look at such lawless behavior of Vietnamese plus the uncontrollable corruption inside Vietnam plus its ambitious political tactics on the neighboring countries Laos and Cambodia. Do not create business in such a country with devious government and racist people!

  3. When you brag about how the North Vietnamese beat the US, you’re a supporter of the Vietnamese communist regime. The truth comes out that you don’t support democracy or freedom. You support Vietnamese including the communist you love that “beat the US” first. That why you think Vietnam was the number one country before 1975. I can’t stop laughing at that delusion of grandeur. Your words indict yourself, hypocrite.

  4. South Vietnam was one of the wealthiest country in Asia before 1975, not impoverished as it is now after 40 years of communist rule. North Vietnam did beat America, you dumbwit. That is why Vietnam is now Communist. Do your research and learn real history, not Chinese version distortion of history. Who said Vietnam wants to dominate Asia. It is you Chinese PRC that want to dominate Asia. Chinese can’t fight but only bully weaker countries. Even Small Vietnam can defeat China as in 1979.

  5. You can’t accept the truth that you’re delusional. Where’s the proof that “South” Vietnam was the top country in Asia before 1975? North Koreans are isolated by their government so it’s understandable if they believe in their government’s lies. What’s your excuse you Vietnamese looking turtle without a shell? You obviously don’t live in Vietnam either so what’s your excuse for believing in deranged propaganda that Vietnam was the number one country in Asia before 1975? The only other people that believe that are other dumbass Vietnamese. You think you’re going dominate Asia with that level of stupidity? LOL!!!!! Why not claim you’ll beat the US with that delusion of grandeur?

  6. You can’t accept the truth that yes South Vietnam was on top of Asia before communist takeover, you stupid Chino. When Vietnam gets democracy in future, not ruled by corrupt and greedy communists, Vietnam will again be on top of Asia. This will be obtained in another generation after the communist are gone from Vietnam. Do not underestimate the Vietnamese because we will always defeat Chinese invasion. The only propaganda is you trying to put down Vietnamese.

  7. You defend a commie nation now, ergo, you’re a commie pinko defender. Stupid and ignorant is believing in that North Korea type propaganda that “South” Vietnam was the top country in Asia before 1975.

  8. I want to add that you are so stupid and ignorant that you didn’t even know that South Vietnam was not communist.

  9. Read my comments carefully. I am far from supporting Communist propaganda, VCP or PRC. Vietnam is backward today is because of the greedy and corrupt VCP. As for you, I see you are mouthpiece of the most hated country on earth, PRC.

  10. Now you’re just lying. Not surprised. Love that Vietnamese communist propaganda. South Vietnam was on top before 1975? Delusional like I said. Why would I be jealous of the Vietnamese? You mean in a fantasy dream like how Vietnam was the top country in Asia before 1975? LOL!!!!!!!

  11. Hi Stephen,

    When you compare China and Vietnam, China always has some big advantage due to their big market size and early start.

    I think Vietnam is 10 years behind China in term of economic development. What you see China now should be Vietnam 10 years later. I saw a photo of Shanghai 15 years ago and now, I was stunned.

    Vietnam was also changing fast. 20 years ago, most ride bicycles. 10 years ago, I went back, most ride bikes. This year I went back, I saw bike and a lot more cars.

    When it come to Hi Tech, a lot of big tech players like Sam Sung, LG, Nokia, Intel, HP had already invested billions on Vietnam. In fact Sam Sung had its biggest manufacture in Vietnam with over 12 billion dollars.

    Vietnam will need another 10 years to have big brands like Baidu and Alibaba. Currently, companies like FPT, VNG, Zing, Vat Gia, Coc Coc attracted a lot of foreign investment and growing very quick. Some are now multi-billions dollars companies but 10 years companies like VNG was not even exist.

  12. South Vietnam was on top of Asia before 1975 after Communist takeover. Vietnamese people around the world are one of the most successful Asians. There are bad, good or corrupt people in every ethnicity. As for illegal marriage arranges, this happens with many poor people from many cultures. As for Vietnamese people being the most hated, and other biased comments from you, I see you are either delisional or have a lot of jeolousy for the Vietnamese people.

  13. Hehe, your post shows exactly how uneducated the Vietnamese are. I don’t know whether it is another side effect of agent orange, Vietnamese tend to indulge in mind masturbation, which is another indication of laziness and avoidance of reality. At least read the other comments here, OK?

  14. Love your delusions. If Vietnamese are the most successful, why is Vietnam in the lower half of East Asian countries? Shouldn’t they have always been on top? What innovations have come out of Vietnam? Nothing. Vietnamese are some of the most hateful people on the planet all of it driven by envy.

  15. Hi Don.

    Cool. It is very nice to meet you. Maybe we can do something together or talk about Tech’s stuffs.

    Anyway, contact me: @kenny.ngo.3538

    Kenny Ngo

  16. please don’t make any promote for Vietnam , one thing you have to know ” communist rule for every thing,corruption every where ” ……invest something in Vietnam have to be Beware ……….

  17. Chruda must be a lazy Chinese troll! The French used to have a saying when they control Indochina about the Vietnamese’s work ethics: “The Vietnamese plant the rice, the Cambodian watch it grow, and the Laos listen to it grow!” As far as being uneducated…how is that possible when Vietnam beat the US, UK, France, Germany, Australia, and most of the G20 countries by placing 12th overall in math and science score for all OCED countries for high schoolers in 2015?! And where did China rank? Not even in the top 75! Provoke China..why? The last time China provoke Vietnam by trying to invade it in 1979..Vietnam kill 20% of PLA’s 200K strong forces in just 2 months with militias and police force! China ran home like a whimpering dog and didn’t bother Vietnam for DECADES!

  18. I heard your comments and conclude you are Chinese PRC troll. TPP is about stopping China’s influence. The U.S. wants democracy in Vietnam and military cooperation of Vietnam to stop China from controlling the South China Sea(means south of China, not belonging to China). Vietnamese Americans are one of the most successful and educated Asians around the world, with most refugees leaving Vietnam after 1975. Chinese troll like you like to bash Vietnamese people and keep Vietnamese people down. Your bigotry and lies about Vietnamese people don’t fool anybody.

  19. Not to mention, it’s also one of the most corrupted country in the South East Asia! Much far worst than China when it comes to business practice!

  20. Heard this kind of talks at least since 5-10 years ago. Nothing significant has happened. What would one expect from a country with a narrow strip of mountainous land, and lazy and lowly educated populace. Vietnamese young women still choose to get out of poverty by marrying to poor Chinese peasants. The riots several months ago have scared away many foreign investors already. If they miscalculate and really provoke China, this country will be doomed again for decades to come.

  21. You sound like a racist. Not surprised. My “group” is doing better than Vietnamese in the US and elsewhere. That’s not hard to say since Vietnam is a corrupt basket case that carry those illegalities to the US. Vietnamese have the most nationalistic venomous hate in the bones so I wouldn’t be whining about anyone else being a hater of Vietnamese. Those are facts about what Vietnamese do. I’m not surprised by the delusion that Vietnamese think they’re some saints.

  22. I live in Viet Nam ! DO NOT blow your money there, learn from people who know, this guy is full of B..S…, both Disney and Bill Gates walked away from deals there because the government is to hard to deal with! A foreigner CAN NOT own a small business in Viet Nam only a joint venture with a national. Beware.

  23. fourtwenty mostwanted | Jul 18, 2015, 3:53 pm at 3:53 pm |

    Unless u know high official commie, I wouldn’t recommend investing there.

  24. Very cheap labor and cheap life there!!?!!
    Vietnamese protests over land grabs in Hai Duong Province killed by bulldozer.
    See at CNN – http://ireport.cnn.com/docs/DOC-1256139

  25. DO NOT INVEST IN VIETNAM>. REMEMBER THEY ARE COMMIES.. THEY ARE NOT YOUR FRIEND>BACKSTABBERS ALL THE WAY..LOOK AT WHAT THEY DID TO THE FRENCH AND AMERICANS.. INVESTING IN VIETNAM IS LIKE INVESTING IN A SEWER,,,they will STEAL YOUR INVESTMENTS and call it THEIRS.. Look at what they did to the CHINESE investers.. burn their Factories Down.. just because some strife from Chinese Government and the BLAME the INVESTORS… They have no respect for the INVESTOR..

  26. You are funny man. Get your head out of wonton soup LOL

  27. The country is run by unfortunately idiots who fought the war without much education. Vietnam lost the entire generation of intellectuals who fled the country after the war. Also the country suffered from the US and world economic embargo, and the US normalized relations about 15 years ago. These components pretty much contributed to lower economic growth.

  28. You sound like a hater of vnese than anything worth noticing. Do you have a hidden agenda, perhaps of jealousy of the vnese achievements in the US compared to the group you belong to?

  29. Trader Jack Flash | Jul 18, 2015, 8:03 am at 8:03 am |

    After I had read and digest this article then I literally read all the comments up to the minute. I had learned a lot of nothing but mostly opinions and that’s including the author of this article. It’s true that the information is the best tool for the educators and you are what you know. If you see the color white then your mind will perceive that it is white. Contrary to it, it’s harmful to oneself if the fact is knowingly twisted, e.g. if you see white but you call it black. Finally, there is bigot who has not seeing black or white and has known nothing but they just like to stick their noses in just for fun. So, reading this article is interesting and entertaining but not educating.

    This article talked about investing in Vietnam now and comparing it to investing in China 20 years ago. The author given the lesson learned from China could potentially benefit you if you know what to look for investing in Vietnam. However, you cannot compare China to Vietnam. The two countries are not the same; the resources and the population that make up of the economy are very dynamic. The author suggested few key points on investing in Vietnam’s future are lain in the stock market, the young population and the low costs and plentiful workforce. Whether you are buying shares from the IPO or looking to open up shop in Vietnam but first you need to understand how the legal system work in Vietnam and you need to understand your risk. Per my personal experience and intuition, investing your money in anything or anywhere is require risk and you need to calculate how much can you lose before parking your money there.

    As for the stock market in Vietnam, I see it as an opportunistic investment and I wouldn’t be comfortable for a long term investment there. If you thinking of opening a business or manufacturing shop in Vietnam then you need to pay a visit there to see what is available to your business with your own eyes before making any decision. Big corporation like Nike, Intel and many other have the backing of the government to protect their investment to some degree and the level of risk management the company must already considered before signing on the dotted line. If you are a small company or a startup then you ought to consider OEM. OEM allows the purchasing company to obtain needed components or products without owning and operating a factory. Thus, you don’t need upfront investment and overhead costs to manufacturing your products.

    So, bottom line for any investment…is to do your home work before investing.

  30. I agree with every thing about this article. I am Vietnamese American and last year was my 1st time visit vietnam from 30yrs. I worked in American High Tech support and manufacture to big company in US. Microsoft, Samsung and Korea Telecom, Intel, Sheraton Hotel, Hilton Hotel, Sony, Ford, BMW, Mercedes, Nike, shoes, Gap, Victoria Secret, etc… but for high tech like wireless and telecom manufacture is already present in vietnam, I am very worries be the last one. Dong Anh manufacture of Vietnam is already under Korean radar. Samsung had use rectifier part of Dong Anh Korea in which Dong Anh manufacture of vietnam. Vietnam is small fish for big fish like Japan, Korea, China, UK, German, French and US to buy it out. Currently transition already happen business agreement already signed. Invest your money wisely not like many invest in street market or small business. Do Not.

  31. Trader Jack Flash | Jul 18, 2015, 5:31 am at 5:31 am |

    Correction. U.S.A. didn’t defeat Vietnam.

  32. Unfortunately, what you say is true. Corruption is rampant at all levels. The controlling party members and their princeling offsprings are siphoning off resources from the people to fatten their wallets and to invest in offshore places such as in China and the US. Anyone want to guess who is banking the new LA Football Club?

    VN will never prosper on an individual basis as long as these crooks and their cronies don’t die off.

    VN will always be a tourist country and I hope its countryside stays preserved.

  33. Please back your statement up with real numbers. Healthcare fraud, criminal activities, stealing, and cheating pervade all ethnicities and communities. Perhaps you work closely in the VN community and have more exposure to Vietnamese, and so you have this negative impression. Otherwise, you sound quite much like a bigot.

  34. I do not think VN has the capability to copy foreign brands well. I think it is more likely that only the good copy cats manufactured from China get smuggled into VN and thus create the impression that VN can make good clones.

  35. You mean like the fish bred in Vietnamese fish farms full of sewage and antibiotics so they can survive in that filth? Vietnamese lie cheat and steal more than any other Asian in the US. In the US Vietnamese skew all the bad statistics of Asians. They account for disproportionately more criminals in the US corrections system than any other Asian group. I also know about welfare scams in the Vietnamese community where Vietnamese doctors pay poor Vietnamese $50 if they sign-off that the had cancer treatments and then Vietnamese doctors send the bill to the US government and US taxpayers pay for surgeries and treatments that never happened.

  36. Slapped with tariff’s? You do know the whole point of labor and environmental standards was to raise costs in order to lessen the blow on the American worker. That means Vietnam’s costs go so high that non-member nations will still be cheaper to outsource despite tariffs. Look at Mexico. It has a FTA with the US and China still was cheaper half way around the world. And also did you know that Wikileaks released a document that said the US hopes China joins TPP within ten years before the country becomes disinterested because TPP then falls apart. That means TPP was all about China and getting the US the advantage into the China market. The US leaving out China at first is all about making sure the US writes the rules and not give China any say. China doesn’t join… TPP falls apart. James Packer, Australian casino magnate, opened a casino recently in the Philippines because the government promised a lesser tax than Macau. The problem was the Philippine government was engaging in tensions with China to which this casino was suppose to make a lot of money from Chinese gamblers. The casino has been a bust because Chinese gamblers are not going there because of tensions. Did you know that James Packer under TPP rules can actually sue the Philippines for loss of expected profits because of their tensions with China driving away business? And this decision will not be from a court of law. It will a secret council of representatives of corporations that get to decide.

  37. Lee is your last name? You are a homeless strayed dog with a broken spine, a japanese and inuu cross breed.

  38. Lee is your last name? You are a homeless strayed dog with a broken spine.

  39. Dare not touch Japan? Hehe, ask any Japanese. They all know where the 3rd bomb will be from.

  40. Vietnam’s notorious KTV bars have the author all worked up. No…nay…nah…and no way that Vietnam is going to be another China. TPP will turn Vietnam into a low cost assembly site for multinationals. When Vietnam is priced out, the multinationals will find another poor third world country to exploit. Under TPP intellectual property protocol, Vietnam will be prevented from utilizing the same tools that Japan, South Korea, and yes the USA used to develop. And that is to copy others technology. China is receiving much condemnation from the US because it is taking a page from the American industrialization play book to develop. When the US needed a space program, it stole one from the Germans. When the US was getting its whipped by Japanese auto companies and semiconductor companies, the US copied as much from the Japanese as possible while putting in place tariffs. Under TPP, Vietnam will be prevented from doing this.

  41. No one ever made money in Viet Nam. This is just another propaganda for people to invest to make those corrupted high ranking communist officers richer (by billions of dollars, not millions). I am Vietnamese American and I am telling you guys to keep your money and invest it wisely somewhere else. You guys should not trust or do business with any communist countries. They are not any rules and they could put you in jail and take your business away any time. Many Vietnamese Americans went back to do business and none of them came back with money. Some made friends with the high ranking officers and thought that they would cover his back. Well, when his business was successful, the commie wanted to take over…If you refuse, they can put you in jail and take your business away. It had happened to some Vietnamese American millionaires.

  42. that’s for sure, highways are built with a poor grade of concrete and bridges collapse because of the corruption there because cheaper materials are used instead of the those that were listed on the bid..not sure I’ll be riding the underground subway in HCMC..I’d rather ride my motobike

  43. the transition from motobikes to cars will only happen when there are roads built that can accommodate cars, right now there are very very few… if you think you want to drive a car in Saigon think again. The streets are just not built for cars, a bike is the only way to go if you want to get somewhere but given this.Vietnam is a great place to travel..nice people beautiful country excellent food and cheap

  44. Kenny; could not not find you in FB. Contact tansola @ gmail.com. FB @ don.do.735. I am also in Houston. Software.

  45. @chruda:disqus You must be a lazy scumbag troll who does not know to do a simple task.

  46. Vietnam is the same as china, they copy all foreign brands and then they manufactured as well, if you travel to Vietnam you can purchase a lot of fake products but it’s look original and good material, compare to china totally garbage…

  47. Vietnam is too big to be compared to Singapore. Vietnam’s population is larger than the UK. Go figure.

  48. Nonsense. Vietnamese will graduate to bigger vehicles when they get wealthier. The motorcycles in Saigon and Hanoi are such nuisances, clogging streets and generating so much roadside pollution.

  49. China troll wants you to re-invest in China!

  50. Advanced or not, Don’t think the Vietnamese will fall for SUV and big gas-guzzler cars like GMC. They love motorcycles, and environmentally conscious people – unlike the rest of the world, especially China. They know that more cars in the country will be problems – not only air pollution but also traffic congestion. They have seen enough around the world. Stop your sarcastic “motorbike” phase.

  51. Why dont your commy dare to touch Japan, who demolish your country not long ago, now keep bully smaller countries, and bark like stupid chihuahua to Japan, Taiwan and U.S. but dare do no s h i t, f king stupid coward chinese commy

  52. Hey chruda, oops is your name ching cheng WOK WOK, the typical chinese commy coward

  53. Nike used cheap labor!!! That’s all

  54. I see several differences between China and Vietnam
    The first and foremost, of course, is the population. This leads to the obvious conclusion that the Vietnamese consumer market is a dwarf compared to the Chinese market, once their economies turned into a consumption based economy.
    From a manufacturing standpoint, Vietnam poses as the closest competitor to China in Asia today because of their work ethics and diligence.
    However, there is one major set back to Vietnam’s manufacturing base due to their lower, overall education level as a country, as compared to the Chinese. Meaning, they may be competitive in making furniture, or shoes, or accessories, but not high tech gears, such as iphones, or Samsung Galaxy smart phones, as an example.
    Also, because of their small population, they will have an inherent disadvantage in developing their own brands by using their domestic market as a spring board. For example, China’s Baidu, Alibaba, Xiaomi, have become or eventually will become world behemoths by incubating in their own domestic market first, before entering into the international arena. Conceivably, the Chinese can do the same thing with their auto industry, their air plane industry. their high speed transportation industry, one day. I don’t see Vietnam being able to do that.
    For a small country like Vietnam, the best future, of course, is to look up to countries like Singapore, which is primarily intelligence based, knowledge based, and education based. But that will take a ground shift in national philosophy and attitude. I don’t see that with Vietnam in the near future.
    As a result, I will jump into Vietnam for short term gains, not for long term gains like in the case of China or Singapore.

  55. Wow really I wonder if Nike know about this???

  56. Lol !!! How much have you received $$$ from commie for the article? Then you better invest all of your assets to those Commie Vietnam. Not in 20 years, you will know it by several years later on when you do business with Commie!

  57. That’s good. Public transportation is better than everyone owning a car in Vietnam. Just hope they do it correctly so it doesn’t collapse.

  58. WiseFundManager | Jul 17, 2015, 9:06 pm at 9:06 pm |

    Have fun watching others make money then, ignorant imbecile.

  59. WiseFundManager | Jul 17, 2015, 9:05 pm at 9:05 pm |

    They’re building a metro below HCMC

  60. WiseFundManager | Jul 17, 2015, 9:05 pm at 9:05 pm |

    You’re very ignorant

  61. Heard this at least since 5 years ago. Nothing significant had happened. What would one expect from a country with a narrow strip of mountainous land and lazy and lowly educated populace. Vietnamese young women still choose to get out of poverty by marrying to Chinese peasants.

  62. There’s always been motorbikes in Vietnam. That’s nothing new. Vietnam’s infrastructure does not allow for everyone to own cars. There’s simply no roads and it’s next to impossible for the government to build enough of them. They would have to relocate millions upon millions of people to do so.

  63. There are always risks attached to every opportunity. Even supposedly safe investments like bonds in the USA back in 2006 turned out to be based on fraudulent accounting. Studying the opportunity and making the right investment will you an edge.

  64. But on the flip side, many Vietnam’s products won’t be slapped with higher tariffs, giving it some advantages. Higher wages also have benefits. A better-paid working class would increase domestic consumption, and accelerate GDP growth.

  65. Thanks for a good article. I’m a Vietnamese American and I have a chance to went back there and I was so surprise of the growing Tech Startup over there. There are huge potentials for Tech Companies because Vietnam know have a lot of Hi Tech Park like Quang Trung Software park.

    I’m running a software company in Houston and have a team working with me in Vietnam. If anyone who running a business and would like to extends your business to Vietnam, please contact me on my FB.

    We would love to work with American Tech company. We are a young startup but have a good team that open to new opportunities.

    Kenny Ngo

  66. Here’s where the article is wrong. Vietnam is going to be a member of the Trans Pacific Partnership. That means Vietnam has to abide by humane labor and environmental practices. That means paying workers more and spending the money to make factories that are environmentally friendly. That means everything in Vietnam will cost more. Nothing in TPP says member countries can only trade with one another. Meaning non-member countries will have lesser costs doing business there.

  67. For you… I don’t think you have anything to offer or to lose anyway since you are never had a business or own a business, and if you do I do not think you know what you are saying!

  68. not good idea jump to VietNam. Hope nobody take your money and run

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