The Legacy of COMECON

The end of the legacy of COMECON of the Soviet Union and the collapse of the Eastern European Communist Party's system inevitably led to the collapse of organizations like the Warsaw Convention and the Mutual Economic Support Committee (CMEA or Comecon). Uncertainty is the end of Communists' answers to the Marshall Plan. That is, Comecon is a useful move for its member countries.

Comexcon. This is when Vietnam fully and completely complied with the Soviet "brother 29". Standardization of contract terms was completed as part of Comecon (Economic Mutual Aid Association) established in 1949. Conscon is an economic mutual aid organization of eastern group countries, of which the Soviet Union is the center 30. Vietnam joined in 197831. The conscient's general conditions were passed in 19582 and applied automatically to all sales contracts of Comecon officials without exception. General sales terms are like a consistent document that defines contract formation, supplier and purchaser obligations, as well as contract violations, sanctions and even force majeure rules - the parties will be able to use these rules It can not be escaped. Buyers rarely refuse goods 33

From 1970 to 1990, Vietnam became a member of Comecon and traded with the Soviet Union and its allies. After the dissolution of Com Com, Vietnam was forced to make free trade, depreciated the exchange rate to increase exports, and embarked on regional and international economic capitalization policies. In 1986, Doi Moi reformed the concentrated economy into a "socialist-oriented market economy". In 1990, business and agriculture succeeded, after the reform of Doi Moi, the economy grew at a rate of more than 7% a year, revealing that the number of the poor has decreased by nearly half. Gross domestic product declined between 1998 and 1999, as the government still strictly controls the major national sectors of the economy.