THIS COMBINED WITH A HUNDRED TONS OF GOLD, A THRIVING AND GROWING ECONOMY, A MAJOR FOOD PRODUCER, VAST NATURAL RESOURCES OF GOLD NATURAL GAS AND OIL, THE RECENT INCLUSION OF A NEW REVENUE STREAM OF OIL AND GAS REVENUE DUE TO A NEW CONTRACT BETWEEN RUSSIA AND CHINA WHICH INCREASES CURRENCY VELOCITY, AND CURRENTLY BEING THE FIFTH LARGEST EXPORT ECONOMY IN THE WORLD, VIETNAM STANDS TO BE A POWERHOUSE IN THE NEAR FUTURE.
CHINA KNOWS THIS AS WELL AS VIETNAM. SO I BELIEVE A MUTUAL AGREEMENT WAS MADE TO JOIN FORCES FINANCIALLY.
CHINA WINS BY THE DONG TAKING A HIGHER VALUE TO BEGIN WITH AND LIKELY TO HEAD MUCH HIGHER IN THE FUTURE TO REPAIR ITS’ CURRENCY AS BEING THE LARGEST HOLDER OF THE DONG.
DON’T FORGET VIETNAM IS HOLDING SIGNIFICANT AMOUNTS OF THE YUAN AS WELL SINCE THEY ARE THEIR LARGEST TRADING PARTNER.
VIETNAM GETS A NEWLY REVALUED CURRENCY AND ENTERS THE WORLD AS A TRUE PLAYER WITH THE HELP OF CHINA BACKING IT’S CURRENCY ON THE WORLD STAGE.
ALSO THE WORLD BANK WEIGHS IN ON MAKING SURE THEY DON’T OVER SPEND ON THEIR BUDGET. WHY ?? THAT WOULD BE A CURRENCY VALUE KILLER.
YOU SEE, MANY ARE UNAWARE THAT THE DONG WAS NORTH OF 2 DOLLARS PRIOR TO THE VIETNAM WAR. CHINA ALSO KNOWS THAT VIETNAM HAS PASSED ARTICLE 4 REVIEW AND IS NOW READY FOR A TRUE VALUED RATE !
I BELIEVE THE DONG WILL REPAIR THE YUAN AND THE DINAR WILL REPAIR THE DOLLAR!!!DOC…….THESE ARE MY OWN THOUGHTS AND OPINIONS:
***********
Vietnam Party official heads to China to defuse tensionsBy An Dien, Thanh Nien News
HO CHI MINH CITY - Monday, August 25, 2014 18:37
China's then Vice President Xi Jinping (L) is greeted by Vietnam's Vice President Nguyen Thi Doan (R) and credit: Reuters RELATED NEWS
In sultry Vietnam, top US general seeks thaw with former foe
Vietnam walks a thin line between US and China after oil rig exit
A senior official of the Vietnamese Communist Party will spend two days in China starting
Tuesday trying to repair bilateral ties shattered by an oil rig crisis that sparked deadly anti-China riots in Vietnam several months ago.
Le Hong Anh, a Politburo member who heads the Central Committee Secretariat, will travel to China as the special envoy of Party Chief Nguyen Phu Trong, according to a statement issued
Monday by the country's Ministry of Foreign Affairs. The Central Committee is a powerful grouping of 175 senior Communist Party members; the 16-member Politburo is the Party's decision-making body.
Anh will visit China at the invitation of the Chinese Communist Party.
According to the foreign ministry release, the visit was organized to “defuse the situation and prevent tense incidents like the recent standoffs from recurring.” The statement also said the trip would seek to bolster the healthy, stable and long-term development of relations between the two parties and states.
On
May 2, China deployed an oil rig in Vietnam’s 200-nautical-mile exclusive economic zone, sending Sino-Vietnamese ties plunging toward their lowest point in decades and triggering two months of restrained skirmishes between coast guard vessels at sea.
China withdrew the rig in mid-July. Although the crisis appears over for the moment and Prime Minister Nguyen Tan Dung has demanded that China not send any more rigs into Vietnamese waters, most expect the rig will be back soon.
Analysts say such a scenario will force Vietnam's leadership to re-examine their policy towards their giant northern neighbor.
For most of the tense six-week standoff, Hanoi repeatedly requested talks with China. At the height of the tension, China’s State Councilor Yang Jiechi, a top diplomat who outranks the foreign minister, arrived in Hanoi in mid-June to engage in talks with Vietnam's top leaders. But the trip delivered little results
With Anh's upcoming visit,“Vietnam certainly is seeking to improve bilateral ties with Beijing and it only makes sense to do so,” Jonathan London, a Vietnam expert with the City University of Hong Kong, told Thanh Nien News.
At the very least the talks may help to clarify Hanoi’s strategic outlook,” he said. “The talks should also be welcomed to the extent that they can reduce tensions between the two capitals and begin to repair what should be a relationship based on mutual respect, trust, and healthy economic ties.”
A shift in tone
China's bold incursion into Vietnamese waters set off peaceful anti-China protests that erupted into violence in central and southern Vietnam in mid-May. Rioters torched, looted and vandalized hundreds of foreign-owned factories.
The violence racked up millions of dollars in losses and claimed the lives of three Chinese nationals. Taiwanese businesses, mistaken for being Chinese, suffered the worst. Taipei claims at least 200 factories were looted or burned down in the riots. Around 3,000 Chinese workers subsequently fled Vietnam.
But the tone may be shifting.
Vietnamese foreign ministry spokesman Le Hai Binh said in the
Monday statement that Vietnam “regretted all the incidents that occurred to foreign-invested companies, including Chinese businesses and workers.” Vietnam also expressed regrets about the fatalities and injuries sustained by Chinese workers in the wake of the riots, Binh said.
Vietnam would offer humanitarian assistance to the affected Chinese workers and continue to compensate damaged firms to ensure their continued operations, Binh said. Hanoi would also send a delegation to China to express condolences to the representatives of the victims' families, he said.
After the violence, Prime Minister Nguyen Tan Dung asked cities and provinces to offer the affected companies up to two-year tax extensions as well as export and import tax cuts. He also ordered customs offices to clear items being held for unpaid taxes and called on local governments to reduce or withhold land rental fees for affected companies.
Over 1,000 people have been arrested for their alleged involvement in the riots. Dozens have been tried and received jail terms of up to three years -- the rest received administrative fines. Others are still being tried.
In response to Vietnam's good will gesture, China's Foreign Ministry Spokesman Hong Lei issued the following statement
Monday: "China recognizes the work and attitude of the Vietnamese and hopes that Vietnam can earnestly implement the relevant measures."
‘Little wave on a large pond’?
The oil rig row moved Vietnam's leadership to ramp up economic and strategic engagement with the US and its treaty ally Japan, which is itself embroiled in a dispute with China over a series of uninhabited islands in the East China Sea.
Despite the evident shift in focus, Beijing remains Hanoi's most vital trade partner.
When General Martin Dempsey, the US chairman of the Joint Chiefs of Staff, wrapped up his Vietnam visit on August 16, he also made it crystal clear that Washington would not try to make Vietnam choose between China and the US.
“Because China's your neighbor, you have incredible economic almost interdependencies with China," Dempsey said.
Vietnam’s total trade with China hit US$50 billion in 2013, almost twice the $27 billion in trade reported in 2010.
In 2013, Vietnam exported $7.95 billion worth of garment and textile products but imported raw material worth $4.8 billion, much of that from China. That means even Vietnam's strongest economic sector is deeply reliant on China.
Beijing routinely outlines the scope of its territorial claims by referring to maps featuring a nine-dashed line--a demarcation that takes in about 90 percent of the 3.5 million square kilometer East Sea, the Vietnamese term for the South China Sea.
Chinese maps featuring the line have been emphatically rejected by international geographers. Moreover, the maps fly in the face of competing claims by four members of the Association of Southeast Asian Nations (ASEAN) --namely Vietnam, the Philippines, Malaysia and Brunei.
But “after all the South China Sea isn't the end-all and indeed in the end Vietnam and China will always be neighbors,” said Mark Valencia, a Hawaii-based analyst.
“Sure neighbors quarrel but if the fundamentals are OK -- including Party to Party -- then this is but a little wave on a large pond,” he said.
"However little waves, if not dampened, can grow ever bigger and eventually erode relationships.”
http://www.thanhniennews.com/politics/vietnam-party-official-heads-to-china-to-defuse-tensions-30336.html***********
China says wants to mend ties with Vietnam: XinhuaThanh Nien News/Reuters
BEIJING - Thursday, August 28, 2014 10:41Email Print
Le Hong Anh (L), the special envoy of Vietnam’s Party chief Nguyen Phu Trong and Chinese Party chief and President Xi Jingping at the talks. Photo credit: Vietnam News Agency
RELATED NEWS
Vietnam walks a thin line between US and China after oil rig exit
China’s second oil rig deployed in disputed waters: Vietnam spokesman
China's President Xi Jinping told a special envoy from Vietnam
on Wednesdaythat both countries should be "friendly to each other" to help mend ties after a flare-up over sovereignty in the South China Sea, the official Xinhua news agency said.
The visit to Beijing by Le Hong Anh, a member of the Vietnamese Communist Party's powerful Politburo, is the first sign of a concerted effort to heal the rift between the two countries, which share annual trade worth $50 billion.
"(I) hope the Vietnamese will make joint efforts with the Chinese to put the bilateral relationship back on the right track of development," Xinhua quoted Xi as telling Le Hong Anh.
"A neighbor cannot be moved away and it is in the common interests of both sides to be friendly to each other."
Earlier, Liu Yunshan, a member of China's elite Politburo Standing Committee, was quoted by Xinhua as telling the visitor that both sides should bring bilateral relations back on track.
"China-Vietnam relations for a while have been tense and difficult, which we do not want to see," Liu said, adding that Le Hong Anh's visit reflected the Vietnamese government's "political will to mend and develop bilateral relations".
Under an agreement reached between Liu and the visitor, China and Vietnam will earnestly implement a basic guideline for the resolution of China-Vietnam maritime issues signed in October 2011, Xinhua said.
They agreed to seek lasting solutions acceptable to both sides, studying joint exploration of the East Sea, the Vietnamese term for the South China Sea, and avoiding actions that complicate disputes, it added.
On
May 2, China deployed an oil rig in Vietnam’s 200-nautical-mile exclusive economic zone in the East Sea, sending Sino-Vietnamese ties plunging toward their lowest point in decades and triggering two months of restrained skirmishes between coast guard vessels at sea.
The oil rig row moved Vietnam's leadership to ramp up economic and strategic engagement with the US and its treaty ally Japan, which is itself embroiled in a dispute with China over a series of uninhabited islands in the East China Sea.
China withdrew the rig in mid-July. Although the crisis appears over for the moment and Prime Minister Nguyen Tan Dung has demanded that China not send any more rigs into Vietnamese waters, most expect the rig will be back soon.
"China wanted to make a point by deploying its oil rig and it succeeded in doing so. China will do so again if and when it decides to," Mohan Malik, another security analyst at the Hawaii-based Asia-Pacific Center for Security Studies, told Thanh Nien News.
http://www.thanhniennews.com/politics/china-says-wants-to-mend-ties-with-vietnam-xinhua-30444.html***********
Vietnam wants to restore, boost relationship with China: Party envoyBy Truong Son, Thanh Nien News
Wednesday, August 27, 2014 09:32
Le Hong Anh (L), the special envoy of Party chief Nguyen Phu Trong, holds a talk with Wang Jiarui, Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference, in Beijing on August 26. Photo credit: Vietnam News Agenc
RELATED NEWS
Vietnam Party official heads to China to defuse tensions
Vietnam wants to restore and boost the relationship with China and its Communist Party, a senior official of the Vietnamese Communist Party said in his China visit
on Tuesday.
Le Hong Anh, a Politburo member who heads the Central Committee Secretariat, traveled to Beijing for a two-day visit as the special envoy of Party chief Nguyen Phu Trong.
The visit was made at the invitation of the Chinese Communist Party.
As soon as he arrived
on Tuesday, he met with Wang Jiarui, Vice Chairman of the National Committee of the Chinese People’s Political Consultative Conference.
In the meeting, Anh said that he will discuss with Chinese leaders how to restore and boost the relations between the two countries and the two Communist Parties to fulfill the two peoples’ expectations and interests.
He stressed the need for the two Parties and countries to strengthen their cooperation and maintain their healthy and stable relationship, particularly in the face of tensions in the East Sea, internationally known as South China Sea, which have affected ties between the two Parties and countries as well as security, peace and stability in the region.
For his part, Wang said he believed that the visit will help solve existing disputes and differences between the two countries in a satisfactory way as well as further boost bilateral relations.
http://www.thanhniennews.com/politics/vietnam-wants-to-restore-boost-relationship-with-china-party-envoy-30420.html***********
World Bank asks Vietnam to control budget with strict, simple rulesBy Anh Vu, Thanh Nien News
World Bank officials have asked Vietnam to simplify financial management to secure state income and reduce overspending.
During a meeting held to discuss the State Budget Law last week, Victoria Kwakwa, the bank's director in Vietnam, said the government needs to simplify tax procedures in order to ensure a stable source of income.
Companies doing business in Vietnam spend over 800 hours a year, on average, paying taxes and Kwakwa said that figure needs to be cut in half, at the very least.
Private firms would be happy to pay taxes as long as the procedures were simple and transparent, she said.
Figures from the Finance Ministry released at the meeting showed an 18 percent annual increase in budgetary income since 2002 when the law took effect--or a five-fold increase 5.4 between 2003 and last year.
Income growth has allowed an annual increase of 13.5 percent in public investments, and VND700 trillion (US$33 billion) in wage increases during the last decade.
Do Viet Duc, deputy director of the ministry’s State Budget Department, said a large part of Vietnam's state income remains unstable.
He said 40 percent of the state budget comes from crude oil and exports, which are largely determined by fluctuating global prices.
He said the $83.48 billion public debt (equal to 56.2 percent of GDP) remains "safe" and probably won't exceed 65 percent by 2015.
But he also decried a high degree of excessive spending, without offering specifics.
World Bank officials added that Vietnam lacked discipline when it came to spending and cautioned that continuing its current management practices will lead to yawning deficits.
Finance Minister Dinh Tien Dung said he would try to fix that by demanding that specific officials and agencies justify their spending.
In the future, Dung said he would speak for the central government's spending only and let city/provincial officials explain how money gets spent in their jurisdictions.
The Ministry of Investment and Planning would be responsible for explaining overspending at state-funded projects, he added.
“The spender will have to do his own explaining from now on. The finance minister will only instruct, supervise and blow the whistle on anyone found doing wrong,” Dung said.
Dinh Van Nha, vice chairman of the legislature’s Finance and Budget Committee, told Thanh Nien that he’s concerned about the government’s overspending, as no official has ever been punished for doing so.
Nha suggested that the law include punishments for going over budget. The ministry and the legislature will discuss the law's implementation this October.
