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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 ]
Since the reforms of the 1980s, Laos has achieved sustained growth, averaging six percent a year since 1988, except during the Asian financial crisis of 1997. But subsistence agriculture still accounts for half of GDP and provides 80 percent of total employment.
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.
2001 Turkish economic crisis; 2007–2008 world food price crisis; ... 2022 Laos economic crisis; Lehman Wave; Liquidity crisis; Lost Decade (Peru) M. 2024 Mayotte ...
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 ...
The Lao People's Revolutionary Party (LPRP) [a] is the founding and sole ruling party of the Lao People's Democratic Republic.The party's monopoly on state power is guaranteed by Article 3 of the Constitution of Laos, and it maintains a unitary state with centralised control over the economy and military.
With the milk collected from the buffalo, O’Shea and her team create one of Laos’ rarest products – cheese. At the farm, tourists staying in Luang Prabang can stop by from 9 a.m. to 5 p.m ...