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Why does it need to be global?????
When a currency like the dong is so devalued that 1 million buys a loaf of bread, people face reduced purchasing power, eroded savings, unaffordable imports, stagnant wages, debt crises, and social stress. In Vietnam, this would devastate urban workers, savers, and importers, while exporters might initially benefit until global backlash hits. The government’s weak-currency policy supports growth but risks inflation if mismanaged. Historical cases like Zimbabwe and Venezuela show the human toll of such scenarios, underscoring the need for stable monetary policy.