VIENTIANE -- The purchasing power of people in Laos is fading rapidly amid soaring inflation, a weakening currency and other deteriorating macroeconomic conditions, with experts warning the Southeast Asian nation must take steps such as cutting its debt to creditors including China to stop its downward economic spiral.
Inflation
Laos hit hard by inflation, currency woes and plunging spending power
Experts warn nation must cut debt to China and others to ease economic burden
Markets in Laos offer an array of tempting treats, but locals are struggling with dwindling purchasing power. (Photo by Ken Kobayashi)
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