If Vietnam’s gold market policy resembles bathwater that needs changing, which water should be discarded without throwing out the baby in the tub? Throughout the endless debates of human intellectual history, philosophers have made it their responsibility to discard the bathwater—the outdated ideas they considered no longer valid. Yet, they also acknowledged and respected their predecessors, recognizing that within each discarded bathwater remains a child worth preserving. The task of later generations is to pour away the water while ensuring that the baby survives. To better understand the origins and rationale behind Decree 24/2012/ND-CP, dated April 3, 2012, concerning the management of gold trading, readers may refer to my earlier article published in The Saigon Times in April 2013. In that piece, I explained the fundamental objective of Vietnam’s gold policy, which was implemented for the first time: to remove gold from circulation. In other words, it aimed to separate gold from the credit system and eliminate its role in the financial system as a means of monetary exchange, restoring its status purely as an asset. This is the “baby” of the gold policy. At that time, the power of the gold market was so strong that the monetary regulator […]
If Vietnam’s gold market policy resembles bathwater that needs changing, which water should be discarded without throwing out the baby in the tub? Throughout the endless debates of human intellectual history, philosophers have made it their responsibility to discard the bathwater—the outdated ideas they considered no longer valid. Yet, they also acknowledged and respected their predecessors, recognizing that within each discarded bathwater remains a child worth preserving. The task of later generations is to pour away the water while ensuring that the baby survives. To better understand the origins and rationale behind Decree 24/2012/ND-CP, dated April 3, 2012, concerning the management of gold trading, readers may refer to my earlier article published in The Saigon Times in April 2013. In that piece, I explained the fundamental objective of Vietnam’s gold policy, which was implemented for the first time: to remove gold from circulation. In other words, it aimed to separate gold from the credit system and eliminate its role in the financial system as a means of monetary exchange, restoring its status purely as an asset. This is the “baby” of the gold policy. At that time, the power of the gold market was so strong that the monetary regulator […]
If Vietnam’s gold market policy resembles bathwater that needs changing, which water should be discarded without throwing out the baby in the tub? Throughout the endless debates of human intellectual history, philosophers have made it their responsibility to discard the bathwater—the outdated ideas they considered no longer valid. Yet, they also acknowledged and respected their predecessors, recognizing that within each discarded bathwater remains a child worth preserving. The task of later generations is to pour away the water while ensuring that the baby survives. To better understand the origins and rationale behind Decree 24/2012/ND-CP, dated April 3, 2012, concerning the management of gold trading, readers may refer to my earlier article published in The Saigon Times in April 2013. In that piece, I explained the fundamental objective of Vietnam’s gold policy, which was implemented for the first time: to remove gold from circulation. In other words, it aimed to separate gold from the credit system and eliminate its role in the financial system as a means of monetary exchange, restoring its status purely as an asset. This is the “baby” of the gold policy. At that time, the power of the gold market was so strong that the monetary regulator […]
The textile and garment industry faces growing risks due to new U.S. tariff policy and an unpredictable, unstable global trade environment. Vietnam should adopt...
Job cuts, network downsizing – what is happening in the development strategy of commercial banks? What is driving this shift?
Shrinking sooner than expected?
By 2030,...
“Vietnam’s textile and garment industry has a mixed picture: The golden opportunity for growth and, at the same time, big systemic and geopolitical challenges....
Over the past two decades, Vietnam’s gold market has undergone significant turning points and steadily evolved in response to both domestic and global macroeconomic...
Peer-to-peer lending, one of three sectors approved for pilot operation, is struggling to prove its value as competition intensifies fiercely in the online lending...
Following the conclusion of shareholder meetings and the release of first-quarter financial statements, analysts anticipate potential correction pressure or a consolidation phase after May’s...
Focus: Rethinking Vietnam's Gold Policy: If Vietnam’s gold market policy resembles bathwater that needs changing, which water should be discarded without throwing out the...