Page Index Toggle Pages: 1
Send Topic Print
China accused of luring Laos into debt (Read 14492 times)
 
Admin Saovaluck
Miss Administrator
Meaning of the starsMeaning of the starsMeaning of the starsMeaning of the starsMeaning of the stars
Offline


Lao Pride and No. 1 fan
of Judy Garland from
Laos!

Posts: 4695
Vientiane, Laos
Gender: female
Age: 35
Awards: 5
Judy Garland Gold Star AwardJudy Garland Silver Star AwardTop Poster AwardOutstanding Contribution AwardLaotian Award




Judy Garland's Ruby Slippers
The most beautiful pair of shoes worn by the most beautiful actress in movie history.
China accused of luring Laos into debt
19th Jul, 2022 at 9:54am
 


Lao girl sitting beside Lao flag


Lao girl sitting beside Lao flag







China accused of luring Laos into debt


China's strategy could be a disaster for Laos and there's accusations their move has been deliberate but China has hit back.

For more than a decade, international analysts have warned that China's global infrastructure diplomacy could be a disaster for poorer nations like Laos. Some even suggested the strategy was deliberate – a means to secure strategic international assets.

Others, however, have labelled such criticism as "sour grapes" as the economic influence of the United States wanes.

"It is simply another typical case reviewing the sour-grapes mentality of the US-led Western world, unwilling to see any beneficial co-operation between China and others, and they know clearly that they have lost advantages in pursuing such kinds of collaboration," states the Communist Party.

Beijing's cash splash has proven extremely popular, with big-ticket items such as shopping centers in Vientiane, bridges, highways, railways high on the priority list of its Belt and Road initiative.

Now the global pandemic, as well as soaring energy costs and global food shortages brought about by the Ukraine war, have proven how vulnerable Laos really is.

Inflation is running at 23 per cent. Its currency – the kip – has shed a third of its value in just 12 months. And there's insufficient cash to pay for critical imports, such as fuel.

What cash it has is going towards annual $US1.4 billion repayments on a $US14 billion debt. That represents almost 90 per cent of its national gross domestic product.

Half is owed to the People’s Republic of China (PRC). And most of that has been sunk into a commercially questionable China-Laos mega railway project.

But there's also speculation that a series of undisclosed loans bloats Laos' total debt exposure to China out to $US12.2 billion.

Now global credit rating agency Moodys has given Laos a "junk status" warning, stating it has "a very high debt burden and insufficient coverage of external debt maturities by foreign exchange reserves."








Xi Jinping and Thongloun Sisoulith


Xi Jinping and Thongloun Sisoulith


Chinese President Xi Jinping meets with former Lao Prime Minister and current President Thongloun Sisoulith at the Great Hall of the People in Beijing, China.









Lao guys show off their wealth


Lao guys show off their wealth


Lao guys show off their wealth while Laos is faced with high levels of foreign debt.









Lao girl holds Beerlao case box


Lao girl holds Beerlao case box





Lao people eating out


Lao people eating out


Yep, we still enjoy dining out and having a few beers when our Lao currency has hit an all-time low, and prices of food, fuel and other essentials continue to rise.


Back to top
 
View Profile WWW JudyGarlandAsDorothy MissJudyGarland saolili  
IP Logged
 
Page Index Toggle Pages: 1
Send Topic Print
The newest 10 Board Topics
No. Board Name Topic Started By Replies Views Last Post on Topic
1. Judy Garland Board Judy Garland's ruby slippers project in April, 2024 Admin Saovaluck 2 74676 Last Post 28th Nov, 2024 at 5:43pm
By: Admin Saovaluck
2. Judy Garland Board Judy Garland's ruby slippers project in November, 2024 Admin Saovaluck 4 19806 Last Post 19th Nov, 2024 at 6:53am
By: Admin Saovaluck
3. Judy Garland Board Judy Garland as Dorothy's reproduction gingham pinafore dress Admin Saovaluck 39 403545 Last Post 2nd Oct, 2024 at 7:50am
By: Admin Saovaluck
4. Judy Garland Board Judy Garland's ruby slippers project in September, 2022 Admin Saovaluck 4 126758 Last Post 28th Sep, 2024 at 6:15am
By: Admin Saovaluck
5. Judy Garland Board Judy Garland's ruby slippers project in August, 2024 Admin Saovaluck 4 40938 Last Post 7th Sep, 2024 at 7:37pm
By: Admin Saovaluck
6. Judy Garland Board Judy Garland's ruby slippers project in January, 2024 Admin Saovaluck 5 132389 Last Post 26th Apr, 2024 at 6:03pm
By: Admin Saovaluck
7. Judy Garland Board Judy Garland's ruby slippers project in July, 2023 Admin Saovaluck 6 174041 Last Post 24th Sep, 2023 at 7:16am
By: Admin Saovaluck
8. Judy Garland Board Judy Garland's ruby slippers project in August, 2023 Admin Saovaluck 7 106094 Last Post 11th Sep, 2023 at 12:35pm
By: Admin Saovaluck
9. Judy Garland Board Judy Garland's ruby slippers project in May, 2023 Admin Saovaluck 4 102764 Last Post 30th May, 2023 at 4:36pm
By: Admin Saovaluck
10. Judy Garland Board Judy Garland's ruby slippers project in March, 2023 Admin Saovaluck 7 82400 Last Post 8th May, 2023 at 4:39pm
By: Admin Saovaluck


Back to: Lao Pride | Lao Pride Forum