Consider the following statements: 1. Vietnam has been one of the fastest growing economies in the world in the recent years. 2. Vietnam is led by a multi-party political system. 3. Vietnam's economic growth is linked to its integration with global supply chains and focus on exports. 4. For a long time Vietnam's low labour costs and stable exchange rates have attracted global manufacturers. 5. Vietnam has the most productive e-service sector in the Indo-Pacific region. Which of the statements given above are correct?

Answer: C. Statements 1, 3 and 4 are correct. (1) Vietnam fastest growing economy: CORRECT. Vietnam has been one of the fastest growing economies globally with GDP growth averaging 6-7% annually pre-COVID, recovering quickly post-COVID. Often described as 'the next China' for manufacturing. (2) Multi-party political system: WRONG. Vietnam is a ONE-PARTY STATE governed by the COMMUNIST PARTY OF VIETNAM. No multi-party democracy exists. It is among the world's five one-party communist states (along with China, Cuba, Laos, North Korea). (3) Economic growth via global supply chain integration: CORRECT. Vietnam has aggressively pursued export-led growth, joined CPTPP, EU-Vietnam FTA, and is a major beneficiary of supply chain shifts from China. Manufacturing exports include electronics, textiles, footwear, furniture. (4) Low labour costs + stable exchange rates: CORRECT. Vietnam's lower wage costs (compared to China) and stable dong exchange rate have attracted Samsung, Foxconn, Intel, Nike and other multinationals. Stability has been a key competitive advantage. (5) Most productive e-service sector in Indo-Pacific: WRONG. Singapore, South Korea, Taiwan, and Australia have far more productive e-service sectors. Vietnam's services sector is growing but not the regional leader. Source: World Bank Vietnam reports / IMF Article IV consultations.