The State of Laos-China Economic Relations and Trade Cooperation since 1961 to present
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| Format: | Thesis |
| Kulcsszavak: | China economics international cooperation international economic relations Laos |
| Online Access: | http://dolgozattar.uni-bge.hu/41531 |
| Abstract: | Laos and China officially signed an agreement establishing diplomatic relations with the People's Republic of China on April 25, 1961. It made China-Lao trade and economic relations have been steadily expanding for more than half a century, with great achievements in trade, investment and other industries. Therefore, the main purpose of this study is to observe the state of Laos-China Economic Relations and Trade Cooperation since 1961- present. The process of data collection is taken from internet. Its result can find that 1.) Laos benefits from economic and trade cooperation with China includes the construction of a large hydropower station to ensure better energy supply in Laos, the power project constitutes an integrated power grid in Laos. Besides, China and Laos accelerate development strategy, agreement signed in recent years will further facilitate trade and economic cooperation between the two countries. 2.) Trade cooperation reduces the poverty and support the growth of a country, it can be said that China exports to Laos in 2019 worth 1.87 billion US dollars, and Laos exported to China in 2019 worth 1.88 billion US dollars, China's FDI stake in Laos was registered at US $ 32.9 million, but increased to US $ 4,491 billion. 3.) China's economic and trade policy toward Laos, China's aid to Laos covers almost all eight categories of its foreign aid activities, including boosting local economic and social development, China's assistance to Laos covers of foreign aid activities, China-Laos infrastructure assistance covers transportation, water and electricity, telecommunications, public health, education, health care and agriculture. 4.) The challenges and risks of Laos' relationship with China, the challenges and risks in Laos are China-Laos Economic Corridor Construction, High Government Debt and Lack of Self-owned Construction Funds, Lao internal tax law requires all clients and recipients abroad to have a tax certificate before doing business in Laos. |
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