Untitled

Client Case Studies

Inflation encourages more frugal lifestyle in VietnamVietnam has Asia's highest inflation rate and a 30% hike in petrolprices last week has led to many Vietnamese rediscovering bicyclesand the frugal lifestyle of bygone years. Higher prices haveaffected many countries, but few have been hit harder than Vietnam,where inflation topped 27% year-on-year in July. More than 90% ofVietnamese now worry about high food prices, according to a recentsurvey by Nielsen, which listed people's other top concerns as highpetrol prices and their children's well-being. Some people aregiving up their scooters and are flocking to buy bicycles, whichruled the streets until 20 years ago. A popular email circulatinglooks with wry humour at life in times of double-digit inflation."I take you to school on my bicycle," it reads,describing a world where "helmets are suddenly useless,""dogs will run through the streets with the old men" and"my mother races her electric bicycle." "Life in thefuel-saving period is so simple and romantic." (ChannelNewsAsia,July 28)