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参考译文（谷歌机翻）
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Vietnam's ‘Economic Miracle’
Thirty years ago, Vietnam was one of the poorest countries in Southeast Asia. Since then, its real GDP has increased rapidly. A series of economic and political reforms has been responsible for its so-called ‘economic miracle’.
Vietnam has benefitted from the increased protectionism in trade between China and the United States (US). For example, Vietnam has increased production of goods that are substitutes to those made in China to such an extent that Vietnam is popularly referred to as ‘China plus one’, in recognition of its similar comparative advantage to China.
Rising export revenue is only one reason for Vietnam’s spectacular economic growth. With a rapidly growing population, Vietnam has invested heavily in its human capital and physical capital in the form of infrastructure, including cheap access to the internet.
A third reason for this success is how Vietnam has moved towards trade liberalisation. This is shown through its free trade agreement with the US and its membership of organisations of countries that have agreed to trade freely with each other, such as ASEAN and the TPP. These initiatives involve the removal of tariffs and other tools of protection, increasing the potential for Vietnam to trade with other countries.
Nevertheless, there are possible dangers in this strategy. Vietnam’s economy is heavily dependent on its exports which in 2017 were over 90% of GDP. This reliance puts Vietnam at risk from downturns in the global economy and in the economies of its main trading partners. Even more worrying is the repeated threat from the US that it may put import tariffs on manufactured goods from Vietnam.||越南的“经济奇迹”
三十年前，越南是东南亚最贫穷的国家之一。此后，其实际GDP迅速增长。一系列经济和政治改革为其所谓的“经济奇迹”负责。
越南受益于中美贸易保护主义的加剧。例如，越南增加了替代中国制造的商品的生产，以至于越南被普遍称为“中国加一”，以承认其与中国相似的比较优势。
出口收入的增加只是越南经济高速增长的原因之一。随着人口的快速增长，越南以基础设施的形式大力投资于人力资本和物质资本，包括廉价的互联网接入。
这一成功的第三个原因是越南如何走向贸易自由化。这体现在它与美国的自由贸易协定以及它在东盟和 TPP 等已同意相互自由贸易的国家组织中的成员身份。这些举措包括取消关税和其他保护工具，增加越南与其他国家贸易的潜力。
然而，这种策略可能存在危险。越南经济严重依赖出口，2017 年出口占 GDP 的比重超过 90%。这种依赖使越南面临全球经济及其主要贸易伙伴经济下滑的风险。更令人担忧的是，美国一再威胁要对越南制成品征收进口关税。
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Vietnam's ‘Economic Miracle’
Thirty years ago, Vietnam was one of the poorest countries in Southeast Asia. Since then, its real GDP has increased rapidly. A series of economic and political reforms has been responsible for its so-called ‘economic miracle’.
Vietnam has benefitted from the increased protectionism in trade between China and the United States (US). For example, Vietnam has increased production of goods that are substitutes to those made in China to such an extent that Vietnam is popularly referred to as ‘China plus one’, in recognition of its similar comparative advantage to China.
Rising export revenue is only one reason for Vietnam’s spectacular economic growth. With a rapidly growing population, Vietnam has invested heavily in its human capital and physical capital in the form of infrastructure, including cheap access to the internet.
A third reason for this success is how Vietnam has moved towards trade liberalisation. This is shown through its free trade agreement with the US and its membership of organisations of countries that have agreed to trade freely with each other, such as ASEAN and the TPP. These initiatives involve the removal of tariffs and other tools of protection, increasing the potential for Vietnam to trade with other countries.
Nevertheless, there are possible dangers in this strategy. Vietnam’s economy is heavily dependent on its exports which in 2017 were over 90% of GDP. This reliance puts Vietnam at risk from downturns in the global economy and in the economies of its main trading partners. Even more worrying is the repeated threat from the US that it may put import tariffs on manufactured goods from Vietnam.
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Essay - Micro微观
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Essay - Macro宏观
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