The hyperinflation and global financial crisis have produced serious influence on the real economy and virtual economy in Vietnam. The Vietnamese government set down economic stimulus packages to curb the economic depression，comprehensively applied fiscal，monetary and tax policies，increased the minimum wage and consumer subsidies，stimulated the domestic consumption，realized the V-shaped reversal of economic situation. There are huge hidden risks under the Vietnam’s economic development for reasons like unbalanced regional development，a low level of development，export-oriented development strategy and so on. The “Vietnam Model” is a speeded up version of the “China Model”，which emphasizes more on the rapid growth of economy，but ignores the internal balance. Under the influence of increasing trend of economic globalization and global financial crisis，the “Vietnam Model” can hardly continue its past glory，and it is inevitable for the Vietnam’s economy to transform in post-crisis era.