Vietnam in 2023: Political Stability and Economic Worries

Vietnam experienced drastic political and economic disruptions in 2023. The anti-corruption campaign reached the very top level of government. Ongoing prosecutions and new arrests targeted the business sector. Vietnam successfully navigated an unprecedented leadership change and restored stability to the political system, emboldening the public security forces in the process. International relations were marked by successful upgrades of ties to both the US and China. However, a shaky domestic capital market, shrinking global demand, and the side effects of anti-corruption drives resulted in a significant economic slowdown.