Globalisation : a challenge to the Laos economy : a thesis submitted in partial fulfilment of the requirements for the degree of Master of Public Policy at Massey University, New Zealand
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Date
2011
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Massey University
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Abstract
The concept of globalisation has spread through many countries. Considerable attention
has been given to this area of public policy concerning globalisation. Free trade, an
aspect of globalisation, is believed by some critics to be increasing the current economic
element. The World Trade Organisation is among many organisations that represent and
promote this ideology. This organisation provides guidelines and entry conditions that
are required to be met.
This thesis discusses the policies of Laos with respect to the WTO accession within the
context of international trade and free market. The benefits, disadvantages and other
globalisation issues are also considered. Laos as a least developing country has
struggled in its pursuit to integrate with, and participate in free trade according to its
objective of national development. This country lacks the human resources to face the
tough competition in the global market.
For Laos to succeed in entering free trade in the world arena, it has to consider multiple
challenges. Failure may be possible due to the lack of experience when it comes to
world trade and poor human resource management. The application of Laos to WTO
has been prolonged due to a conscientious effort by the government to avoid unintended
consequences.
Globalisation has had direct effects on the world trading system and a country like Laos
is unable to ignore the changes brought about by free trade. Laos also has economic ties
with other countries and trade organisations and should they decide to participate in
globalisation, Laos will be obliged to follow.
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Keywords
Economic development, World trade, Government policy, Laos government