The YouTube video ” Corruption charges against Phuc” highlights the charges brought against the Vietnamese president Nguyen Xuan Phuc in January 2023. In March 2023, the country elected a new president. The former had only been in his position for two years when the scandal made world news.
The question is what these developments mean for the rest of the world.
The Domino Effect
In November 2018, a law was passed by the National Assembly of Vietnam. The law passed vowed to fight corruption and replaced the previous law set in 2005. The law formerly came into law in 2019 and outlined how corruption would be detected and dealt with. Following the passing of this law, the president of Vietnam was accused of corruption and subsequently resigned from his position in January 2023. The decisive action by the leading party may boost foreign investment into the country and counter the slow trajectory of the Vietnamese economy. During Covid, Vietnam was the rising star of Asia and showed relatively good growth in challenging times. There are various reports of human rights violations and abuse in the country under the current administration. The masses grow restless over corruption charges. The ruling party may lose its legitimacy and power. The world is keeping a close eye on the developments in Vietnam.