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That was actually better than most countries.
The big picture is that the Vietnamese dictatorship did exactly the wrong thing. Creating a billionaire class proves that they ditched socialism. But they kept the dictatorship. They should have instead entrenched socialism and become a democracy. That would have been a very interesting thing to see. That they did exactly the wrong thing proves that North Vietnam’s entire reason for fighting the war was a farce.
Are they really fair elections if the communist parties, the ones with large rural support, are banned from taking part?