Transformation
•mid-1980s, it became painfully clear that Vietnam’s system of collective agriculture was not working.
•In 1987, after several years of slow growth, food production actually declined by 4.4 percent and famine struck parts of the country. Making matters worse, inflation had risen from 92 percent in 1985 to 775 percent in 1986, making food more and more expensive for the country’s population of 60 million.
•At the Sixth National Party Congress in December 1986, the Vietnamese Communist Party enacted a series of reforms that would ultimately transform Vietnam from a centrally planned economy to a market-oriented one