Forbes – Vietnam’s Road Back From Serfdom

The transformative power of free markets just can’t be kept down.

We dropped bombs on their heads, defoliated their forests, and destroyed their villages “in order to save them.” We tore apart the fabric of our own society trying to bring the ill-fated misadventure to a close.  After America’s ignominious retreat, millions fled the bloodbath unleashed by the Communist’s victory. Follow this with years of economic policies based on the principles of Marx, Lenin, and Mao that led to decades of grinding poverty, and Vietnam seemed left with no choice but to try something new. Now, as it rediscovers capitalism with a vengeance, an amazingly resilient and forgiving people can’t line up fast enough to buy Big Macs, iPads, and PlayStations.

This week’s guest on RealClear Radio Hour, Michael Greeley, general partner at Foundation Medical Partners and former chairman of the New England Venture Capital Association, shared all this and more. Michael is no stranger to Southeast Asia; he grew up in Hong Kong, where he witnessed that tiny oasis struggle to absorb a massive influx of “boat people.” A frequent visitor to Vietnam, he offered his insights into its booming economy, unfolding investment opportunities, and those he calls “the friendliest and most hardworking people you ever want to meet.”

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