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Grace WattsOctober 15th, 2018Professor WeissInternational BusinessCase #2What do you think Western countries could do to help improve the business climate in Vietnam?After the involvement of just one country, Vietnam’s economy radically. America slowly submerged itself into the Vietnamese economy and helped to bring them out of the depression that they were in, before America interacted with Vietnam, 70 percent of their economy was living in poverty whereas now less than 18 percent is. Although the numbers are good, sacrifices had to be made, the reason Vietnam has had the opportunity to flourish so much is due to the trade embargo that America lifted, as well as an agreement between the two countries that stated,“Vietnam could ship goods to the U.S. market at the lowest possible tariff rates.” Without these exceptions made by the U.S it wouldn’t have been possible to revive Vietnam, at the rate that they did. If everyone were to help Vietnam like this it would make their economy too strong and with little taxes, they would control much of the trading industry. For future countries going through extreme poverty I think some western countries should allow a little bit of slack, by reducing taxes at a small fraction, but not as much as the U.S has allowed Vietnam.