Vietnam is going on the other side of the new iron curtain

Horrifying.

Ms. Lan held more than 91.5 percent of the bank’s shares, which alone is illegal. This practice of taking out gigantic amounts of money from the bank through loan contracts didn’t go unnoticed for ten years. The leader of Vietnam’s Communist Party are surely deeply invested in the banks developments.
Nguyen Phu Trong hoping to divert attention from party leaders, is making a show of Truong My Lan’s case.

Under Vietnam’s criminal code she can appeal the case in that she never tried to agree to a plea deal and has denied the charges throughout the court case. The State is looking for some $20bil and the death penalty sentence is a way of trying to encourage her to return some of the missing billions.

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Vietnam has done phenomenally well since the USA and then Chinese invasions were repulsed, but I expect that the good times are coming to an end as their self-perpetuating semi-gerontocratic single party autocracy becomes more greedy and stupid at the top and cynical and corrupt in the rank and file.

I hope the Vietnamese people, hardworking and sensible, pull a South Korea and escape disguised tyranny before their economy goes crunky.

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