The current economic situation in Vietnam is extremely bleak. Its manufacture is almost paralyzed. The number of dissolved companies reached tens of thousands and workers lost their jobs rampantly. For a long time, Saigon was the place where all working classes gathered to find work. However, now, they have to flee from what is said to be a “job paradise.” According to the state-controlled media, many motels near industrial parks in Binh Tan district, although once considered the “inn capital” in Saigon, now fall into the situation of more than half of the rooms not occupied.
As the economic locomotive, Saigon is now like an old machine. It fell into communist hands and was turned into a source of exploitation for the party for 48 years, and until now, its power has been exhausted. As an engine, the owner also has to pay for maintenance, right? After all, the Communist Party has used this machine for 48 years, without maintenance, how can Saigon still have the strength to perform the role of economic locomotive?
In Saigon, those who could not survive had to leave the city, and those who remained had to live in extreme poverty. Tuoi Tre newspaper said that workers in the “high unemployment” period earn only VND100,000 ($4.2) but had to spend a week to keep up. With this standard of living, it is considered “starving.”
Saigon is like an old horse, now it drags step by step, it is unclear if it can pull itself or not, let alone the task of pulling the whole economy of Vietnam? Saigon is very convenient, has a large river port, very close to the sea. The investment in logistics infrastructure here is very convenient for the development of the city. However, this city was robbed of 82% of its revenue by the Central Government, so where else to build? Going to the Saigon Suoi Tien metro line but also having to borrow ODA to do it, what else can this city have to develop?
Saigon is exhausted, Vietnam’s economy is now in ruins. The corporate crisis is seriously affecting the banking system. The misery of the economy is falling on everyone, from the rich to the poor. However, among them, the poor have to bear the heaviest consequences. So, the question is, does the Party care about saving the poor? The answer without any hesitation was “No!” The Party never saves the poor, even though the Party claims to represent the working class. So who does the Party care to save during this broken economy? The Party only cares about saving the giants.
In the previous newsletter, we talked about Mr. Nguyen Thanh Nghi urgently asking the Prime Minister to save real estate giants. And now, Mr. Pham Minh Chinh is doing that, Mr. Chinh has asked the State Bank to “open the valve” of credit for real estate. Such is the nature of this mode. When the people are so poor that they have to spend $4 to eat for 7 days, and the real estate giants – the creators of the bubble economy – the Party chooses to save the giants, ie save those who have deprived the opportunity of the Vietnamese people’s settlement association.
The Communist Party is like that, they say, they are “for the people” but it is necessary to correct this slogan, that “for the rich people.”
Has the Communist Party ever proved that Mr. Nguyen Van Thieu’s statement was wrong for 48 years? They say one way but they do another. Today, the Communist Party makes policy, when they make decisions, they almost never think about the poor, but only think about the rich. Because when creating a mechanism for the rich to suck money, the leaders will also get rich. When create conditions for the poor to have food and clothing, the Party will not benefit. That’s why they rescued the giants.
Thoibao.de (Translated)
