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The deal comes at a time when critics accuse Beijing of "debt trap diplomacy" to gain strategic advantage in countries struggling to repay loans taken out under President Xi Jinping's global "Belt ...
The cost of the railway has contributed to a US$480 million increase in Lao debt to the Export–Import Bank of China. Western publications subsequently claimed that Laos could end up falling into a default on its debts. [38] [36] [39] In 2019, the Australian think-tank Lowy Institute estimated Laos' debt to China at 45% of its GDP. [38]
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 ...
On 3 December 2021, he and President of China Xi Jinping opened the new Boten–Vientiane section of the Lao-China railway. [22] [23] Laos however faces rising debt to China, with half of Laos' external debt being owned to China. At the 27th Future of Asia conference in Tokyo on 27 May 2022, Thongloun downplayed concerns over a Chinese debt ...
Russia said on Saturday the top foreign guest at an economic forum in Vladivostok next week would be the vice president of Laos, and that it had "nothing to say" about a possible visit by North ...
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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]
Laos, [c] officially the Lao People's Democratic Republic (Lao PDR or LPDR), [d] is the only landlocked country in Southeast Asia. It is bordered by Myanmar and China to the northwest, Vietnam to the east, Cambodia to the southeast, and Thailand to the west and southwest. [12] Its capital and most populous city is Vientiane.