Signs of progress in Vietnam – but not yet in the stock market

While the FT’s correspondent is definitely concerned about the outlook on Vietnam, I’m more optimistic. As I wrote this week, the data suggests the inflation problem is about to peak.

As long as the government doesn’t take that a sign the job is done and relax credit again too quickly, the economy should get back on track next year. Hopefully stocks, which are still performing badly due to complete lack of interest from all – local or foreign – will then come back into favour.

(See also an extended version with a longer explanation of why Vietnam found itself on the cusp of crisis.)

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