Vietnam PM Fighting for Future as Economy Lags Growth Target
- Economists warn the 6.5% growth target is likely out of reach
- Missing the target may impact Chinh’s political trajectory
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While disagreements are common between elected leaders and central bankers, they’re unusual in one-party, Communist-run nations. When they do happen, it’s usually the sign of a power struggle.
That appears to be the case now in Vietnam, which is suffering from an economic slump that will likely see it miss its full-year 6.5% gross domestic product growth target. Although anything close to that would be the envy of many emerging markets, a failure to hit the goal could be career damaging for Prime Minister Pham Minh Chinh, according to people familiar with the situation.