Word: vietnamization
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Dates: during 2000-2009
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...word Asian, much of the time they mean East Asian, and usually specifically Chinese. East Asians, meaning those with Chinese, North and South Korean, Japanese, or Taiwanese ancestry, make up a majority of the Asians at Harvard. Often, Southeast Asians—the region variably composed of India, Vietnam, Thailand, and several other countries—are lumped in with East Asians on ethnic surveys. In the smaller-scale world of college admissions, the Common Application, used by over 300 colleges, splits applicants of Asian heritage not into categories of East Asian and Southeast Asian descent but into...
...best measure of the speed of Vietnam's transformation is on the streets of Hanoi. Just 15 years ago, the city's roads were silent save for the swish of bicycle wheels. Now, a journey across town requires navigating a roaring torrent of motorbikes that demand quick reflexes and constant adjustments to dodge teens steering with one hand while chatting on a cell phone held in the other. Stop signs are viewed merely as suggestions, and there are no lanes so much as threads of traffic - and even then, drivers tend to make sharp turns without even a glance behind...
...approval to become the World Trade Organization's 150th member. And when President Bush arrives later this week for the annual Asia-Pacific Economic Cooperation summit, he will see a vibrant nation light-years away from the war and poverty that once plagued its people. More than half of Vietnam's 84 million people are younger than 30, born after what people here call the "American War." They are the children of two decades of "doi moi" (renewal), a program of economic reforms that has cut poverty from more than 60% in the early 1990s to less than 20% today...
...notice. Last week, Intel announced plans to invest $1 billion in building the world's largest microchip assembly factory in Ho Chi Minh City, formerly known as Saigon. Factories contracted by Nike employ 160,000 people, and recently increased their annual production to 70 million pairs of shoes, making Vietnam the world's second-largest source of Nike sneakers. (China is the largest.) The attraction for investors is obvious: Vietnam's labor force is educated, young and growing, while wages are even lower than in China's coastal cities. And the repressive political climate under the communists' monopoly on power...
...Despite the uncertainties, optimism over Vietnam's economic prospects runs deep. Last week, Intel announced it would increase its investment in a planned computer-chip-assembly and testing plant to $1 billion, tripling the company's original commitment. Upon completion, the 500,000-square-foot facility in Ho Chi Minh City will be the largest of its kind in the world. "I think Vietnam is doing all the right things," says Rick Howarth, Intel's country production manager. Says Scriven of Dragon Capital: "This is one of the most pro-change places I've been in. But there is time...