Market Economy And Socialism

While countries in Central and Eastern Europe have abandoned socialism and embraced market and democracy, two Asian countries-China and Vietnam appeared to have followed a different path, and both economies are growing fast. Yet, although both China and Vietnam are making a decisive transition to the market economy, they have also insisted on the official ideology of socialism. The reform experiences of these two countries have raised important intellectual questions. The purpose of this thesis is to explores the experience with market socialism through reforms in China and Vietnam and looks at the successes and failures of market reforms in these two countries. With fresh insights into these important and topical issues, this thesis contributes to an understanding of how the market and socialist ideology coexist in China and Vietnam, while also furthering deepening reform in China and providing a reference for other developing countries.