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The economy of Laos is a lower-middle income developing economy.Being a socialist state (along with China, Cuba, Vietnam, and North Korea), the Lao economic model resembles the Chinese socialist market and/or Vietnamese socialist-oriented market economies by combining high degrees of state ownership with openness to foreign direct investment and private ownership in a predominantly market ...
The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion . [ 1 ]
For the first time the Pathēt Lao began receiving substantial Soviet military and financial aid, and Soviet advisors appeared in Laos. For the US, this was a signal for all-out war. Massive aid was sent to Phūmī and Bunūm in the south, and in October they advanced towards Viang Chan.
November 5 - Asian and European leaders meet at the Ninth Asia–Europe Meeting in Vientiane to discuss issues including the current financial crisis. 51 foreign leaders are expected to attend including premier of China Wen Jiabao and President of Laos Choummaly Sayasone. [2]
Coin exchange crisis of 692.Byzantine emperor Justinian II refuses to accept tribute from the Umayyad Caliphate with new Arab gold coins for fear of exposing double counting in the Byzantine financial system (actual weight less, than nominal quantity), which leads to the Battle of Sebastopolis and the revolt of taxpayers who burned financial officials in a copper bull.
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The Southeast Asian bloc ASEAN met in Laos on Wednesday as it seeks to advance a stalled bid to resolve a crisis in Myanmar and cool tensions in the South China Sea, days ahead of a gathering of ...
Ongoing — COVID-19 pandemic in Laos. 7 July – The government of Laos discusses the purchase of oil from sanctions-hit Russia as the country faces oil shortages and is nearing a debt default. [1] 29 August – 2022 Laos floods: Recent flash floods caused by heavy rainfall in northern Laos have caused at least 5.6 billion Lao kips in damage. [2]