Singapore

http://en.m.wikipedia.org/wiki/Singapore#_

The economy depends heavily on the industry and service sectors. Singapore is a world leader in several areas: It is the world's fourth-leading financial centre, the world's second-biggest casino gambling market, and the world's third-largest oil refining centre. The port of Singapore is one of the five busiest ports in the world, most notable for being the busiest transshipment port in the world. The country is home to more US dollar millionaire households per capita than any other country. The World Bank notes Singapore as the easiest place in the world to do business. The country has the world's third highest GDP PPP per capita of US$59,936, making Singapore one of the world's wealthiest countries.

We are a land locked country.
We are still a communist country.

The riches country in the world are landlocked country. Luxembourg, Switzerland. Thailand is better off then Laos, but with 65 million population. About 6.5 million is living poverty. Laos with 6.5 million about 26%, 1.7 million live in poverty.

HAIR wrote on 2^nd May, 2012 at 8:00pm:

China may look really good right now because of the USA and other western nations that depend on their relatively inexpensive exported goods.  The USA can shut off influx these goods anytime into the country and if so China will be in a heap of trouble. 

China's economy will eventually go down because China is cutting corners on almost all infrastructures.  These infrastructures will eventually crumble down with a higher magnitude earthquake and we all know that earthqakes are very common in China. 

I hope Laos build everything right by using 'Western' standards.

Being a landlocked country is clearly a disadvantage for Lao. In order to counterbalance that fact only huge (enormous, gigantic) investments in an "excellent" infrastructure network will really put Lao on the map of the international (regional; Asean) trade. Some efforts have been done, more friendship bridges, a railway connection between Vientiane and Nongkhrai but is clearly not enough. Connection with China through railway is being studied but will this project is really worthwhile for Lao if we take into account the mercantile way of china when they are conducting business.
Lao did not from my point of view really achieved an agriculture revolution. It has huge potential but once again infrastructure is of the essence (irrigation).
Lao is gifted with lots of raw materials and minerals but once again without a proper infrastructure system, how can they export heavy and voluminous loads! Hydro-power could provide industries "cheap" energy which is good for Lao. What about Oil and gas resources?
Concerning the industrial revolution same problem even worst.
They lack the technical skills and the funds (Investors that have the balls to believe into Lao potential). Why produce goods for the domestic market (only 6.5 to 7 millions potential consumers) and not be able to compete on exports ?
Is Lao going to be able to conquer the added value from raw material to finished goods??? This kind of project (scale development) can only be conducted by strong incentives of the state and probably public or mixed companies at the beginning. But officials still have bad habits, they get easily confused with their own purse and the one that have to manage in the name of the people. They will probably fail due to corruption.
Yes Lao does enjoy a relatively "cheap" labor but untrained, unqualified and clearly unproductive. Productivity is one of the major key of competitiveness. As an investor I will not mind paying 2 Vietnamese or Thai and Chinese that do the job of 5 Lao and only cost 3 of them!
It seems that Lao government is focusing into providing better education and training to his citizens. That is encouraging but technical training is difficult to provide due to swift technology changes. Even developed country has difficulties to cope with the speed of evolution in that matter.
Tourism would fuel some of the growth but once again infrastructure is paramount. Lao airlines are 25% to 50% more expensive than Thailand (accommodations,etc... only alcohol is cheaper!)
Concerning services few Lao companies would be able to compete with foreign companies. Their competitors enjoy better expertise, more funds to develop their network (banks, insurances...).
Is the situation of Lao hopeless? I do not think so but much depends on the "wisdom" of the Lao government, would they do the strategical and tactical good choices, would they implement "good practice" management of the wealth of the people?

There is oil/gas below Laos and the concentration may or may not be economical. 

That is aluminum refinery (not oil refinery)?  Oil refinery is in the billions to build.

llX wrote on 4^th May, 2012 at 7:27am:


Who is happier an average citzen in China or Laos?

And if a happiness gap did exist (which I highly doubt)
Does the happinness gap between Laos & China reflect the assumed gap between the two economies?

Buk Hoo Kee wrote on 11^th Jun, 2012 at 4:06am:


Also...Singapore is slowly being influenced by China & the Chinese majority there is simply seeing the advanatge of being Chinese.  So as the Chinese minorities elsewhere.

Also see Laos is not Exactly Singapore (Chinese majority, Malay & Indian minorities) the Lao people themselves are unique

The Genetic Atlas study has Lao people stats, He et al. 2012
Patrilineal Perspective on the Austronesian Diffusion in Mainland Southeast Asia

http://thegeneticatlas.com/study_he2012.htm