Vietnam suffered many difficulties, leading to a drastic change in its economy over time. France's conquest of Vietnam began in 1858 and was completed in 1884. In March 1945, Japan took over direct administration from the Vichy regime, which was France during World War II. Vietnam declared independence after World War II but, unfortunately, France continued to rule until its defeat in 1954 by Ho Chi Minh and his Viet Minh forces. Born May 19, 1890. Ho Chi Minh grew up to become a well-known communist revolutionary leader and, ultimately, president of the Democratic Republic of Vietnam. He founded the Vietnamese Independence League, also known as the Viet Minh, and began organizing a nationalist movement against the Japanese and French. On September 9, 1945, hours after Japan's surrender after World War II, Vietnamese communist Ho Chi Minh declared national independence at Ba Dinh Square in Hanoi. A year later, the Democratic Republic of Vietnam launched its first attack against the French, which started the Vietnam War. From 1965 to 1969, U.S. involvement in the Vietnam War increased very dramatically, resulting in defense spending skyrocketing by $31.9 billion, while total spending on the federal government increased by $65.4 billion. The increase in tax revenue was not enough to keep up with the increase in spending, so that Vietnam's deficit reached $25.2 billion in fiscal 1968. The increase in the budget deficit of the Vietnam increased the country's overall price level, decreased the employment rate, and increased interest rates (Encyclopedia of the Vietnam War: A Political, Social, and Military History).Defense Spending of the Year tax Total expenditure Surplus or deficit of tax revenues 1965...... middle of paper ......n in companies. The most populous city in Vietnam is Ho Chi Minh (Saigon), with approximately 3.3 million inhabitants. Population of Vietnam from 1990 to 2009, data from the World Databank (2011). I predict that Vietnam will have a prosperous future since it has made a strong comeback with many economic achievements since the beginning of Doi Moi, such as improved living standards and unemployment rates. Vietnam is now doing better in terms of economic growth than any Asian country other than China (Vietnam and Angkor Wat). Vietnam is in a period of integration into the global economy as it has become a leading agricultural exporter and is an attractive destination for foreign investment in Southeast Asia. Nonetheless, most Vietnamese today enjoy more freedom than their ancestors ever had during their country's long history of struggle and conflict...