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asked ago in General Economics Questions by (120 points)
Vietnam has transited from a planned economy to a market one in around 1990. According to World bank, GDP/capita of Vietnam in 1987 = 573 USD, i.e. a little bit higher than the low-middle-income country standard (481 USD). But then this number went down and fluctuated and just until 2006 it met the low-middle-income standard again.

Is it meaningful when I said Vietnam already met the standard in 1987 when it was a planned economy?

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