Vietnam: Bicycles Give Ways to BMWs

摘要

Wealth is being created at turbo-charged rate, nd the young, newly affluent population is engaging in a startling wave of (largely un-financed) conspicuous purchasing. Bicycles have been swapped for BMW's in the streets of Hanoi and Ho Chi Minh. McDonald's may be conspicuous by its absence but there is no shortage of high-end electronics retail outlets, mobile phone distributors and auto dealers challenging the spaces previously dominated by art and lacquer ware...", said strategists based in Hong Kong, including Spencer White, the chief Asian equity strategist for Merrill Lynch, one of the world's leading financial management and advisory companies.