In periods of gloom like this one, when commentators see nothing but faults in most countries, it is worth highlighting the few that defy the prevailing pessimism. The outstanding list comprises Viet Nam, Indonesia, India, Greece, Portugal, Saudi Arabia and Japan.
The Financial Times assessed that these countries share some combination of relatively strong growth, moderate inflation or strong stock market returns – compared with other countries.
Viet Nam was regarded as the least surprising name. By investing heavily in the infrastructure required of a manufacturing export power, and opening its doors, Viet Nam is growing at nearly 7 percent, the fastest pace in the world.
Any of these economies could, of course, falter, undone by a turn in leadership, policy or by complacency. Still, these nations are already among the top performing stock markets this year. Amid well-founded worry about global prospects, a new set of winners is emerging.
Previously, Viet Nam’s economy was expected to grow by 7.2% in 2022, on the back of a strong rebound in domestic demand and continued solid performance by export-oriented manufacturing, according to the World Bank East Asia and Pacific Economic Update, October 2022.
The international lender upgraded its growth forecast for Viet Nam from 5 percent in April./.