Vietnam Emerged as a Beneficiary of the China-U.S. Trade War, but the Real Estate Issue Looms Large

The corruption case of Vietnam's female billionaire Truong My Lan, which has rocked the international community, has indeed led to a somewhat dormant atmosphere in real estate-related activities in the local area. Last month, Truong My Lan was sentenced to death by the local court for allegedly withdrawing $44 billion in loans from the Saigon Commercial Bank, which she controlled through the establishment of different ghost companies. This is very rare in similar corruption cases. In fact, this trial is the most shocking in the anti-corruption campaign led by the General Secretary of the Communist Party of Vietnam, Truong My Lan, which has been dubbed the "furnace of fire" anti-corruption movement, leading to the prosecution or forced resignation of hundreds of high-ranking government officials and high-profile business leaders.

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