The planned lifting of quota and restrictions on Chinese garment exports by WTO members will certainly mean that Laos’ garment industry will face stiff competition both in the areas of price and quality.
The 150 plus member-nations of the World Trade Organization are set to take that action next year, giving China a free hand in its garment exports, which means stiff competition for the garment industries of its poorer neighbors, particularly Laos, because of cheaper labor in China.
Laos’ hydro-power industry will also face similar competition. China plans to build 14 hydro-power projects in its Yunnan province, with the potential ability of generating over 23,000 megawatts of electricity that China would like to sell to Thailand, whose energy needs are constantly increasing.
Listen to our Laos Today report for more details in Lao.