By Daniel J. Graeber, UPI
HANOI, Vietnam –Amid tensions over a Chinese oil rig in disputed waters, an economic policy center in Hanoi said Vietnam needs to take steps to reduce its ties to China.
This picture taken on May 13, 2014 from a Vietnamese coast guard ship shows two Chinese coast guard vessels sailling near the area of China’s oil drilling rig in disputed waters in the South China Sea. Vietnam is experiencing its worst anti-China unrest in decades following Beijing’s deployment of an oil rig to disputed waters, with at least one Chinese worker killed and more than 100 injured. (Photo: HOANG DINH NAM/AFP/Getty Images)
An annual report from the Vietnam Center for Economic and Policy Research says Vietnam’s economy is expected to slow down because of ongoing tensions with China over an oil rig operating in disputed waters in the South China Sea.
“Facing tensions with China, Vietnam needs to commit to changing its economic model, development path and ideology in governing its economy,” the report said. “The economic slowdown has offered a number of reasons to call for radical reforms and reduce dependence on China.”
The Vietnamese government in May said it has the right to defend its national interests. Beijing says it’s operating within its territorial waters and has called on Vietnam to stop interfering with its legitimate work in the region.
Read the full story by Daniel J. Graeber from UPI.
