President Barack Obama’s visit to Vietnam last week was the latest sign of warming relations with America’s one-time foe. This week’s Global Guru is a guest column by Asian expert Carl Delfeld which highlights the investment opportunities in this fast-growing Asian nation that easily rival those of the overleveraged Chinese market.

Wouldn’t it be great if you could create an ideal market to invest in out of thin air?

Right off the bat you would want lots of growth potential. Perhaps you also would want economic numbers like inflation and interest rates on a declining trend. In addition, political stability, low valuations coupled with low costs and increasing flows of capital also would be nice.

Of course, we will never find the perfect market. There is always risk with any investment and flaws to even the best story. But looking over the world right now, the best market I can find is Vietnam.