I.

Mở bài
In 2008-2009, the world economy was in a state of severe crisis. Its effects weigh
on the growth of developed and developing countries such as Vietnam. Therefore,
finding the right way and policies to revive the economy is extremely urgent at that
time. And one of the effective and influential policies that affect our country is the
use of "Pump priming".
II. Thân bài
Pump priming is the use of policy tools to increase the components of the
economy's total demand, stimulating economic growth. When the recession is
happening, the economy is pushed into a vicious spiral: economic decline,
unemployment make reduce income and consumption leaves businesses without
output, businesses shrink production, layoffs and unemployment increases.
Therefore, the biggest goal of pump priming is to reduce unemployment and
maintain jobs.
1.
In 2008, the global financial crisis was likened to the Great Depression of 1929-
1933. Particularly in Vietnam, contrary to the overheating situation in late 2007,
early 2008 and from the last 6 months of 2008, the economic situation fell into
recession. The economic growth rate in 2008 was only 6.2% compared to 8.5% in
2007. This is the lowest growth rate since 2000; growth in the fourth quarter of
2008 was only 5.7% compared to 6.5% in the first three quarters of 2008. Export
turnover in October 2008 decreased by 3.3% compared to September and
November decreased by 4.4% compared to October. By 2009, the crisis was
getting worse. The first is that job losses caused by job cuts were common in
industrial parks in late 2008 and early 2009. But it does little in the form of public
layoffs but rather non-re-signing contracts, encouraging self-employment. Seasonal
workers or short-term contracts lose more jobs. Many businesses have difficulty
complying with social insurance policies and the newly adopted unemployment
insurance system. Businesses are recorded to have resumed production, workers
are only counted as normal working hours and shift shifts, there is no overtime and
 this causes them to cut back on spending due to the high cost of living. This was
followed by a serious decline in registered FDI, with only $2.1 billion in FDI in the
first three months of 2009, down 70% from 2007. In the face of this crisis situation,
our state has used stimulus packages to support small and medium-sized
enterprises in the short term.
2. L
In the context of the global financial crisis and economic slowdown in 2009, the
emergence of these "stimulus packages" is not only popular in Vietnam but also in
countries, regional and international organizations such as the IMF, EU, ASEAN,
with increasing scale, from trillions of dollars as in the US, hundreds of billions of
dollars in Japan, China, Russia and EU member states...
The same: all three countries used stimulus packages in the context of the economy
falling into crisis status from 2008 to 2009.
Different:

US China Vietnam
$787 billion $586 billion $8 billion
Infrastructure ($100 -Most of it is used to -Implemented into 4
billion) invest in components including:
Tax breaks and taxes infrastructure: -Investment package: Use
($282 billion) transportation, train of investment for basic
Supporting states; system, health construction works.
supporting the poor system, -Consumer support
and the elderly; food environment ... package: Used to support
price compensation -The rest is the poor to eat Tet, exempt
(remains) earthquake recovery from personal income tax,
in Sichuan each poor household 1
million. 4% interest rate
support package
(accounting for the
 majority)
-Investment support
package: Used to exempt,
reduce and postpone VAT,
sales tax for businesses.
lend to people to buy
machinery and equipment
without interest.

3. J
Following the first stimulus package, the second stimulus package was also
announced with a larger scale, a longer loan term (up to 2 years), looser
conditions (enterprises and cooperatives with capital of less than VND20
billion, employing less than 500 workers, may owe taxes and overdue credit
but have suitable projects still considered for lending) and the field of
lending. The lending sector is also expanding... Until now, there have been
many supportive views, saying that the stimulus package 2 should not be
implemented. These are views on the need to avoid shock, about the
stepping stones for our economy. What is needed now is to maintain some
more practical stimulus, with lower preferential interest rates, stricter supply
conditions with smaller volumes. However, this is not convincing.