My friend from the Netherlands, Daan, did this video of crossing a busy road in Hanoi, Vietnam. The key is to walk, don't run, so that the drivers can avoid you.
Most traffic in Vietnam is actually motorcycles, not cars. There was a free taxi ride included when I bought my train ticket through my Hanoi hotel. I have to admit that I was a little surprised when a motorcycle, and not a taxi, pulled up to take me to the station.
But after carefully observing Vietnamese traffic, my theory is that it is the most efficient system of transportation possible if human life is not a major consideration in your traffic model!