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...year ago, Vietnam was being hailed as the next Asian miracle, a success story to match the rise of the Asian tigers of the 1990s and more recently the stunning growth of China and India. Thanks to economic reforms, the communist country was attracting record amounts of foreign investment. The economy expanded by 8.5% last year-among the fastest rates in the region-and housing prices doubled and tripled, driven up in part by frantic buyers who stood in line to snap up condos before they had even been built. The country's nascent stock market was minting millionaires...

Author: /time Magazine | Title: Vietnam's Troubled Economy | 6/9/2008 | See Source »

...virtually everything, from food to fuel to housing, have been spiking. Much of Vietnam's recent growth has been driven by its expanding manufacturing sector, but now assembly line workers' salaries are being outpaced by basic living costs. The result has been a rash of strikes-unusual in communist Vietnam-that are hurting the country's image as a haven for multinational companies looking for alternatives to China for manufacturing sites. Over the last six months, there have been more than 300 strikes throughout the country. Most last only a few days, with management usually agreeing to small pay increases...

Author: /time Magazine | Title: Vietnam's Troubled Economy | 6/9/2008 | See Source »

...government in Hanoi has been slow to tackle some of the problems in part because battle lines are no longer neatly drawn between Communist Party hardliners and the party's more liberal economic reformers. Decision-making has been fragmented to the point of paralysis, says Pincus. For example, no single entity is in control of monetary policy. In a system that works on consensus- not just among the party but committees, ministries and provinces-it has been difficult to get leaders to make tough decisions. "It's always harder to distribute the pain," says Pincus. "It's much easier...

Author: /time Magazine | Title: Vietnam's Troubled Economy | 6/9/2008 | See Source »

...Bulacan, Burgos began working with a peasant activist group, training farmers in organic techniques and giving political seminars. The government has accused the group of supporting the New People's Army (NPA), a Communist insurgency that has festered for more than three decades in the country's impoverished hinterland. But the peasant group's leader, Joseph Canlas, says that neither Burgos nor his group was connected with the insurgents. Burgos certainly had deeply felt leftist sympathies. Yet even his own family cannot say for certain whether he was a mere fellow traveler or an active NPA supporter. On occasion...

Author: /time Magazine | Title: The Philippines' Disappearing Dissidents | 6/9/2008 | See Source »

...Philippine police and military have long blamed the killings and kidnappings on internal purges within the Communist insurgency. The NPA does have a history of murderous infighting: in 2003, a former insurgent leader was gunned down in a Manila restaurant while eating lunch. But international and Philippine human-rights watchdogs allege that the military itself is responsible for many of the deaths and disappearances. According to Ruth Cervantes, a spokeswoman for Karapatan, the violence peaked in 2006, at the height of a new government offensive against the NPA. In a scathing 2007 report, Philip Alston, a special rapporteur...

Author: /time Magazine | Title: The Philippines' Disappearing Dissidents | 6/9/2008 | See Source »

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