We emphasizes the strong roles of regional economic linkage to develop local economies, esp. even better for post-covid time. For instance in the Southern & Mountain region: HCM city – Binh Duong – Dong Nai-Long An – Ba Ria Vung Tau – Tay Nguyen. Or in the Northern region: Hanoi – Thai Nguyen – Quang Ninh – Nam Dinh – Hai Duong, or in Tay Bac region, or some areas in Middle provinces of Vietnam. The purpose is to reduce bad effects from covid 19 pandemic. These economic supports can be in any forms: capital investment, labor transfer and movement, new start -ups and business models, technology transfer, real estate projects, new smart cities, agriculture products & seafood, etc.
Lets continue to discuss roles of cycle economy in helping the country to overcome consequences of covid 19. Basically, whole economy can be classified into supporting and infrastructure sectors (necessities-IT-financial accounting-technology research- market research-construction &real estate – banks & funds-medicine &pharma – education-environment), and values creating sectors (farming-agri-seafood, manufacturing-factories, distribution &transportation, wholsale &retail, ex-import), and monitoring sectors (legal-law, security -defense, ministries – agencies). There is rising need for market research centres to sell and advise data package including supply-demand of labor in each industry and for start-ups, and these need to offer values added for society to receive smaller pieces from a whole market cake. It means that conglomerates and big groups need to live together with SMEs. The rule big fishes eat small fishes might not be true, in terms of reducing unemployment and bankcruptcies in socialist market economy and covid context. This somewhat differs from capitalism.
Is it the time to put average income per capita and purchasing power of VND to be targets of socio-economic policies!
In the past US economy helped economic world and good external control but now the world economy is depending on US economy too much though Covid 19 will continue cause troubles for USA and shows US socio-economic governance has black sides and somehow weak personal character. It is the time we need more balanced world, fair cooperation and it would be better for US to not intervene into domestic economy in each country so much as with pay-off.