Word: vietnamization
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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...
...funny thing happened on the way to prosperity. Halfway through 2008, Vietnam's authoritarian government finds itself grappling with soaring prices, collapsing markets and an increasingly restive workforce. Inflation, now running at an annual rate of 25%, is eating up much of the gains made by citizens over the last several years. Vietnam's stock market, which has fallen 58.5% since January, currently holds the unhappy title of being the worst-performing in the world in the last 30 days. Citing the government's difficulty in reining in inflation, Moody's, which grades creditworthiness, lowered Vietnam's ratings outlook last...
...Inflation is causing trouble worldwide, of course, but it's particularly acute in Vietnam, where prices for 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...
...traditional veterans' groups don't want the rules loosened. "We vehemently disagree" that PTSD is a physical wound that warrants a Purple Heart, says Joseph Palagyi, the national adjutant of the Military Order of the Purple Heart, who earned the medal in Vietnam on June 2, 1968. "We feel that the purity of the medal must be maintained." The American Legion agrees. "Unless PTSD crosses the line and is shown to be an injury-with a direct relationship to the enemy-we support the current policy," says Phil Riley of the Legion. Michael Wysong, the director of national security issues...
...shows, have plied their troops with medicinal palliatives at least since George Washington ordered rum rations at Valley Forge. During World War II, the Nazis fueled their blitzkrieg into France and Poland with the help of an amphetamine known as Pervitin. The U.S. Army also used amphetamines during the Vietnam...