Vietnam is more than a convenient neutral site for the second summit between U.S. President Donald Trump and North Korean dictator Kim Jong Un, which is slated for later this month. The Southeast Asian nation is being held up as a model for what Kim's isolated country could become if he adopts sweeping market reforms. It's an especially apt comparison, one which Kim himself reportedly noted last year — but not necessarily for the reasons you might think.

The choice facing Kim at the Hanoi summit is the same as it's always been: weapons or wealth. The United States has long offered North Korea a chance to develop its moribund economy in exchange for abandoning its nuclear program. Trump is so confident Kim will finally accept that he recently tweeted "North Korea will become a kind of Rocket — an Economic one!"

Like his father and predecessor, though, Kim has so far left the deal on the table. Clearly he's worried about losing his iron grip on the country if it opens up to the outside world. Moreover, it's not entirely clear that the model of export-driven growth that Vietnam and other Asian tiger economies followed can work for the North, given the current rollback of free trade.