Phuong thailand - feb 16-17,2012 - ver 3

THE 5TH THAI-MALAYSIAN INTERNATIONAL CONFERENCE ON SOUTHEAST ASIAN STUDIES RE-MAKING HISTORICAL MEMORY IN SOUTHEAST ASIA MAHIDOL University - February 16 – 17, 2012 AN ENCOUNTER WITH INVENTED MEMORY IN MAKING OF ECONOMIC POLICY THE CASE OF COFFEE TRADING IN CENTRAL HIGHLANDS OF VIETNAM Nguyen Hoang My Phuong – VietnamMain content:1. Vietnam coffee industry2. Economy from the historical standpoint in Dang Phong’s perspective3. Remaking memory of coffee trading in Vietnam4. Concluding remarks

VIETNAM COFFEE INDUSTRY Structure of the coffee industry in Central Highlands (2007) 94% AGENTS/ 6% DOMESTIC COMPANIES ROASTERS GROWERS 94% 6% 94% INTERNATIONAL EXPORTERS TRADERS/ROASTERS/EXCHANGES Vietnam coffee production Main solution in MA thesisUsing financial instruments• Derivatives• Commodity-backed bonds

ECONOMY FROM THE HISTORICAL STANDPOINT IN DANG PHONG’S PERSPECTIVE•No chronology•Finding out fundamental causes•Multi-disciplines (Economics, History, Politics, etc.)•Various sources (interviews, newspapers, governmental documents, etc.) => Dang Phong: an Economist – not a writer NEW UNSOLVED INFORMATIONCENTRALLY-PLANNED ECONOMY MARKET-ORIENTED ECONOMYECONOMIC MINDSET ECONOMIC TRANSFORMATION IN VIETNAM 1979 - 1986

RE-MAKING MEMORY OF COFFEE TRADING IN CENTRAL HIGHLANDS OF VIETNAM EXPORTING FINANCIAL INSTRUMENTS TRADITION INVENTED TRADITION NEW ARRIVAL CUSTOM COFFEE TRADING LIBERALIZATION GLOBALIZATIONSTATE-OWNED ENTERPRISES /BANKS + PRIVATE AGENTS, COMPANIES + COMMODITY-BASED BONDS CREDIT PHYSICAL COFFEE PHYSICAL COFFEE # FUTURES CONTRACT FLOWS OF PHYSICAL & PAPERS

CONCLUDING REMARKSan owner of a Daklak-based a Vietnamese CEO of a 100%private enterprise foreign-owed company in Daklak‘So many companies and ‘LIFFE and ICE* are thepeople in Daklak lost hundreds biggest markets on the world.of billions VND because of using You therefore have a widefutures contract in LIFFE or range of choices onceICE*. It is bad! I never use it’ entering into it’ * LIFFE or ICE: the two main futures exchanges of trading coffee

Q&AThank youNguyen Hoang My Phuong menfuong@gmail.com

Phuong thailand - feb 16-17,2012 - ver 3

by Phuong Nguyen

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