A little-known Vietnamese blog, Quan Lam Bao (“Officials Doing Journalism”), has emerged as a lightning rod for political tensions as the Communist Party grapples with a deepening economic crisis. The site, along with two other critical blogs, has repeatedly attacked Prime Minister Nguyen Tan Dung, accusing him of cronyism and economic mismanagement—signaling rare public infighting within Vietnam’s secretive leadership.
The blogs gained prominence after breaking news of the arrest of Nguyen Duc Kien, a well-connected banker whose detention rattled markets. Analysts and a party insider, speaking anonymously, suggest the sites’ aggressive critiques likely originate from factions within the ruling Communist Party, reflecting divisions over how to handle Vietnam’s debt-laden banks and state firms.
Economic Woes Fuel Power Struggle
Vietnam’s economy, once a regional standout, is faltering. Moody’s recently downgraded its sovereign credit rating amid fears of a banking-sector bailout. Growth is projected at just 5.2% this year, far below targets, while foreign investment declines. Bad loans, estimated at up to $15.6 billion, plague banks exposed to a collapsing real estate market and struggling state enterprises.
President Truong Tan Sang has publicly denounced cronyism, but analysts see his rivalry with Dung as a power struggle rather than a push for reform. “They’ve run out of wiggle room,” said Adam McCarty of Mekong Economics. “Some rich groups will have to write off assets—the fight is over who.”
Blogs as Political Weapons
Despite Dung’s public condemnation of the blogs as “enemy plots,” Quan Lam Bao and others continue publishing, often using coded insults for the PM. Their persistence fuels speculation that party rivals are behind them—an irony in a country where critics typically face harsh repression.
With banking reforms stalled and transparency lacking, experts warn Vietnam risks prolonged stagnation. “Without transparency, banking reform is a wild-goose chase,” said former central bank governor Cao Sy Kiem.
As the leadership debates solutions, the blogs offer a rare glimpse into the turmoil within one of Asia’s most opaque political systems.
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