Laos’ Debt-Fueled Economy Is Going Up in Smoke

A high-speed rail train is pictured in Vientiane, Laos, at the opening of a Chinese-built railway connecting the Lao capital to the Chinese city of Kunming, Dec. 3, 2021 (Kyodo News photo via AP Images).
A high-speed rail train is pictured in Vientiane, Laos, at the opening of a Chinese-built railway connecting the Lao capital to the Chinese city of Kunming, Dec. 3, 2021 (Kyodo News photo via AP Images).
SUBSCRIBE NOW
Free Newsletter

Over the past few years, the Southeast Asian state of Laos has positioned itself at the center of growing trade, economic and infrastructure integration in the Mekong subregion. Its ambitious plan envisioned its dams providing electricity for Laos’ more populous neighbors and its expanding web of roads and rails—whose development is funded extensively through debt, much of it to China—connecting the region’s rising economies. But that was before Laos’ economy crashed. Today, inflation is skyrocketing. Staple goods like cooking oil are becoming scarce. And the local currency is collapsing against the dollar. The country, whose credit rating was downgraded by Moody’s in […]

TO READ MORE

Enter your email to get instant access to this article and to receive our free email newsletter:

Or, Subscribe now to get full access.

Already a subscriber? Log in here .

What you’ll get with an All-Access subscription to World Politics Review:

A WPR subscription is like no other resource — it’s like having your own personal researcher and analyst for news and events around the globe. Become a member now, and you’ll get:

  • Immediate and instant access to the full searchable library of 15,000+ articles
  • Daily articles with original analysis, written by leading topic experts, delivered to you every weekday
  • Daily links to must-read news, analysis, and opinion from top sources around the globe, curated by our keen-eyed team of editors
  • Weekly in-depth reports, including features on important countries and issues.
  • Your choice of weekly region-specific newsletters, delivered to your inbox.
  • Smartphone- and tablet-friendly website.

And all of this is available to you — right now for just $1 for the first 3 months.

More World Politics Review