ABSTRACT
China and Vietnam are two neighboring socialist countries. Both have been experiencing a successful transition from socialist planned economies to socialist market economies, resulting in remarkable economic, social, and cultural changes. As a result of the adoption of favorable investment policies, large markets and relatively cheap workforces, China and Vietnam have been attractive destinations for foreign investment over recent decades. In many significant respects, Vietnam and China can be regarded as a pair. Factors influencing their similarities include geographical proximity, historical traditions of Confucianism, similar domestic economies, and similarity between the two parties’ senior leaderships.
