Read the passage carefully and choose the correct answer.

Vietnam is a densely-populated and developing country that in the last 30 years has had to recover from the ravages of war. Substantial progress was achieved from1986 to 1997 in moving forward from an extremely low level of development and significantly reducing poverty.

Since 2001, Vietnamese authorities have reaffirmed their commitment to economic liberalization and international integration. They have moved to implement the structural reforms needed to modernize the economy and to produce more competitive, export-driven industries…

Vietnam's membership in the ASEAN Free Trade Area (AFTA) and entry into force of the US-Vietnam Bilateral Trade Agreement in December 2001. have led to even more rapid changes in Vietnam's trade and economic regime. Vietnam's exports to the US doubled in 2002 and again in 2003.

Vietnam joined the WTO (World Trade Organization) in January 2007, following over a decade long negotiation process. This should provide ail important boost to the economy and should help to ensure the continuation of liberalizing reforms.

Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. Vietnamese authorities have tightened monetary and fiscal policies to stem high inflation. Hanoi is targeting an economic growth rate of 7. 5-8% during the next five years.

Vietnam's economy is _______.