During the Asia Pacific Economic Cooperation (APEC) summit held in Hanoi in November, international media attention focused on the rapid economic changes in Vietnam. “Socialist Ideals are Fading as World’s Businesses Rush In,” reads one subtitle. A young entrepreneur with a craving for Western luxury brands represents “the new face of Vietnam.” And an American expatriate in Ho Chi Minh City (Saigon) reports that “it’s all electric here.”