At the two-day symposium entitled “Capitalism and Socialism in the 21st Century”, President of the Central Theoretical Council Dinh The Huynh, who is also Politburo member and Secretary of the CPV Central Committee, affirmed the belief in the vitality and prospect for development of socialism based on great achievements.

In a report themed modern capitalism and the development trend of socialism, CPJ Vice Chairman Ogata Yasuo, head of the Japanese delegation to the event, mentioned the current situation of capitalism in facing difficulties of the economic recession and political security disorder.

Ogata also analysed two main characters of the 20th century, including the development and strength of socialist countries like Vietnam and China despite the collapse of the socialist system in the former Soviet Union and Eastern Europe and the overthrow of the colonialism regime.

He touched upon the strong economic development in socialist countries such as Vietnam and China, saying that capitalist nations have not yet had effective measures to solve the world’s economic crisis since 2008.

On the relationship between the CPV and the CPJ, Ogata said despites differences in history, operation conditions and tasks, the two parties share many similarities in their cause and goals. Both parties have increased exchanges to supplement their perceptions during the revolutionary cause of each party, he added.