In a study conducted by the Development Research Department of the Kennedy School of Public Policy under Harvard University Vietnam and China Uganda Indonesia and India are predicted to be the fastest growing countries world in the next decade.
The above prediction is based on data collected over many years and takes into account negative impacts. extremes caused by the Covid-19 pandemic. Accordingly, after the effects of the epidemic pass, the economies in many countries in Asia, Eastern Europe and East Africa will show signs of improvement again.
Research by Harvard Kennedy School points out three main development drivers of an economy in the next decade: economic diversification, population growth and per capita income growth. In which, the diversification of the economy towards the production of goods requiring advanced technology is considered the most important driving force and can lead to outstanding and sustainable development.</p >
In this aspect, China and Vietnam are highly appreciated due to their policies promoting the development of many manufacturing industries with high added value in recent years. For Vietnam, Hanoi’s economic diversification index is ranked 51st globally, one of the highest positions for developing countries.
In the opposite direction, other countries in Africa and Latin America are not rated highly in diversifying their economies. Researchers at the Kennedy School of Public Policy believe that the growth of these countries will mainly come from forces abundant labor due to population growth.
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