Expectations of a strengthening economy, solid employment levels, more consumer spending and the potential for wages to rise have all played a part in the decision.
This has left the state with large numbers of people without jobs seeking government services, which further strained its resources and hindered potential consumer spending among laid off and furloughed government workers.
Anything close to that would push millions more households to the point where they owe more on their houses than the houses are worth, generating a lot of sour moods — which can depress consumer spending — more foreclosures and potential job losses.
And although Mr Dung, the prime minister, has won praise for his promises to speed up equitisation of state-owned enterprises, the World Bank's country head for Vietnam said recently that the pace of structural reform last year was "slower than expected".Still, Vietnam's young population, as well as its consumer-spending potential, offers solace to some retailers.
Many businesses are still saddled with too much capacity, consumer spending has slowed and a potential war in Iraq has made managers uncertain about oil prices and the broader economy.
Without a rally in consumer spending, economists say, Japan's potential growth has been limited and the economy remains vulnerable to events overseas, like a weakening dollar or a slowdown in America.
If any of these potential bubbles burst, consumer spending would suffer too.America's boom is already slowing: the average price of a home rose by 7% in the year to December, compared with an 11% gain during 2001.
In fact, Drbul thinks the increased awareness the Olympic Games provide will insulate the leading shoemakers from a potential slowdown in consumer spending.
Wal-Mart, and other retailers, have offered deeper discounts and kicked off holiday sales earlier than usual to combat potential slowdowns in consumer spending, which is a likely result of the housing slump and rising oil prices.
During the Great Recession, many were talking about a potential shift in consumer spending habits; this shift would come from a pullback in spending overall.
THE collapse of a major financial institution is usually an occasion for hand-wringing and tut-tutting over potential job losses, lower consumer spending and missed mortgage payments.
