economy
US
Between 1965 and 1975, the United States spent $111 billion on the war ($686 billion). This resulted in a large federal budget deficit. The government's military spending caused problems for the American economy. Funds were going overseas, which made the dollar weaker because funds were not returning to the US. During this time period the US dollar's inflation rate increased. Interest rates rose, restricting the amount of capital available for businesses and consumers. As of 2013, the U.S. government is paying Vietnam veterans and their families more than 22 billion dollars a year in war-related claims.
Vietnam
Destruction caused by the Vietnam war seriously strained Vietnam's economy. Between 1976 and 1986 Vietnam aimed to integrate the North and the South. However, the economy remained dominated by small-scale production, low labor productivity, unemployment, technological shortfalls, insufficient food, and lack of consumer goods.
In 1986 Vietnam launched a political and economic renewal campaign, Doi Moi that intended to facilitate the transition from a centrally planned economy to form of market socialism. Doi Moi combined economic planning with free-market incentives. Doi Moi allowed the establishment of private businesses in the production of consumer goods and foreign investment. By the late 1990s, the success of Doi Moi was evident. Over 30,000 private businesses had been created, and the economy was growing at an annual rate of more than 7 percent.
Between 1965 and 1975, the United States spent $111 billion on the war ($686 billion). This resulted in a large federal budget deficit. The government's military spending caused problems for the American economy. Funds were going overseas, which made the dollar weaker because funds were not returning to the US. During this time period the US dollar's inflation rate increased. Interest rates rose, restricting the amount of capital available for businesses and consumers. As of 2013, the U.S. government is paying Vietnam veterans and their families more than 22 billion dollars a year in war-related claims.
Vietnam
Destruction caused by the Vietnam war seriously strained Vietnam's economy. Between 1976 and 1986 Vietnam aimed to integrate the North and the South. However, the economy remained dominated by small-scale production, low labor productivity, unemployment, technological shortfalls, insufficient food, and lack of consumer goods.
In 1986 Vietnam launched a political and economic renewal campaign, Doi Moi that intended to facilitate the transition from a centrally planned economy to form of market socialism. Doi Moi combined economic planning with free-market incentives. Doi Moi allowed the establishment of private businesses in the production of consumer goods and foreign investment. By the late 1990s, the success of Doi Moi was evident. Over 30,000 private businesses had been created, and the economy was growing at an annual rate of more than 7 percent.