The history of the Vietnamese culture is long and rich with culture full of foreign influences and conquests. There is a long connection with the Chinese. Not only was Confucianism, Taoism, and Buddhism introduced by the Chinese, dikes and irrigation help to create their way of living. These technological adaptions taught the Vietnamese to farm using rice paddies, which still remains an important way of living and is embedded in their culture.
Vietnam had a successful dynasty lead by the Nguyen dynasty in the 18th century. French colonists came in the 19th century and by 1887, they announced Vietnam as part of their Indochinese Union. The last emperor, Emperor Bao Dai abdicated in 1945 and the Viet Minh, lead by Ho Chi Minh, took over Hanoi. As they were fighting with the French for control of their country, they became a piece in US’s fight against Communism. In 1964, the US ultimately got involved with the French-Vietnamese war, using an incident in the Gulf of Tonkin as an excuse. The US would be involved for a couple decades before leaving the country in a state of turmoil. The Viet Minh took over Saigon in 1975 and finally unified the country. Although America ultimately left Vietnam alone, they left behind a cruel legacy and consequences that has scarred the people and environment.
Doi Moi was enacted in 1986 as a way to jump start the economy. A recent policy made was called the Three Pillars in 2012 to help the banks regain the confidence of the people and stimulate the country. Although the country has issues with corruption and lack of trust with its own currency, the outlook for the business is bright as the government continues to support socialism with capitalist characteristics.