Despite growing anxiety about short-term risks to the economy stemming from high inflation and the weak dong, economic growth in Vietnam is expected to average 7.1% a year in 2011-15, underpinned by strong growth in consumption, investment and exports. The impact of the recent devastating earthquake and tsunami in Japan on Vietnam is not expected to be severe, but there could be some short-term disruption to the supply chain and trade. Private consumption growth will be driven by an improvement in the labour market and a consequent increase in real wages. Although global economic growth will slow in 2011, demand for Vietnamese goods is likely to hold up, and the manufacturing sector is expected to ramp up production. This will require more workers, and this stronger demand for labour will in turn encourage growth in wages. In addition, remittances from overseas Vietnamese will remain high, while the development of the financial services industry will make consumer credit more widely available, thus providing an important boost to private consumption. As demand for exports revives, investment in the form of purchases of capital goods for the manufacturing sector will pick up. Despite concerns about the quality of Vietnam's business environment and a recent downturn in planned foreign-invested projects, foreign investor interest remains strong. Demand for Vietnamese goods-particularly in the US, China and Europe-will remain strong, but import expansion will also be significant, and net exports will consequently act as a drag on real GDP growth.