Industry-Intensive Vietnam to Increase Fossil Fuel Consumption
13 hours ago Guest Blogger 17 Comments
By Vijay Jayaraj
Vietnam of the 21st century is completely different from the war-ravaged country of the last century. An industrial hub, Vietnam now is a major exporter of finished goods and has cities that are thriving with economic activities.
The major reason for the economic transformation is the country’s energy sector. However, this is now threatened by international climate policies that seek to transition the country’s affordable and dependable power sector into an unstable and expensive one.
At a crossroads, the country has a choice of opting between increased economic growth and pseudoscientific political agendas that have no regard for the welfare of its citizens. Recent developments in the country indicate that Vietnam will not give up its most reliable and affordable energy source: coal.
Vietnam’s Industrial Growth and Poverty
Vietnam has undergone significant economic progress in recent decades. The poverty rate in Vietnam has decreased significantly since the 1980s, although it remains higher than in many other Southeast Asian countries. Between 2010 and 2020, “the World Bank’s poverty rate ($3.20/day) dropped from 16.8 to five percent, and over 10 million people were lifted out of poverty.
https://wattsupwiththat.com/2023/02/03/industry-intensive-vietnam-to-increase-fossil-fuel-consumption/
