Vietnam has suffered numerous hardships, causing its economy to change dramatically over time. France's conquest of Vietnam began in 1858 and was completed in 1884. In March 1945, Japan took over direct administration from the Vichy regime, which was France during World War II. Vietnam declared independence after World War II but, unfortunately, France continued to rule until the 1954 defeat by Ho Chi Minh and his Viet Minh forces. Born May 19, 1890. Ho Chi Minh grew up to become a well-known communist revolutionary leader and eventually president of the Democratic Republic of Vietnam. He formed the Vietnamese Independence League, also known as the Viet Minh, and began organizing a nationalist movement against the Japanese and French. On September 9, 1945, just hours after Japan's surrender in World War II, Vietnamese communist Ho Chi Minh declared national independence in Hanoi's Ba Dinh Square. A year later the Democratic Republic of Vietnam launches its first attack against the French which triggers the spark that leads to the Vietnam War. From 1965 to 1969, U.S. involvement in the Vietnam War increased dramatically, causing defense spending to skyrocket by $31.9 billion, while total federal government spending increased by $65.4 billion. dollars. The increase in tax revenue was not enough to keep pace with the increase in spending, so Vietnam's deficit reached $25.2 billion in fiscal 1968. Vietnam's increase in budget deficit caused the nation's general price level, decreased employment rate, increased interest rates (Encyclopedia of the Vietnam War: A Political, Social, and Military History). Fiscal Year Defense Expenditures Total Expenditures Tax Revenue Surplus or Deficit1965...... middle of paper ......n in businesses. The most populated city in Vietnam is Ho Chi Minh (Saigon) with approximately 3.3 million people. Population of Vietnam from 1990 to 2009, data from World Databank (2011) I predict that Vietnam will have a prosperous future as it has made a great comeback along with many economic achievements since the start of Doi Moi such as improving living standards and rates of unemployment. Vietnam is now doing better in terms of economic growth than any other Asian country other than China (Vietnam and Angkor Wat). Vietnam is in a period of integration into the global economy as it has become a major agricultural exporter and is serving as an attractive destination for foreign investment in Southeast Asia. However, most Vietnamese today enjoy more freedom than their ancestors did at any point in their country's long history of struggle and conflict..