The most recent estimates for 2010 indicate that Vietnam is no longer among the underdeveloped countries of the world and has moved onto the ranks of middle-income countries. Financial remittances – better known as money being sent back to the home country – have lent a critical hand in accomplishing this major triumph in the country’s formerly depressed economy.
The influx of money by overseas Vietnamese, many of whom fled as political refugees, has dramatically changed the economic landscape of the country in terms of poverty levels and development.
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