Research On The Economic And Trade Development Of Laos And China Under The Background Of The "Belt And Road" Initiative

The Belt and Road Initiative has brought a new concept of development to people around the world.By the end of 2021,the high-speed railway between Laos and China was officially inaugurated,providing new opportunities for the further development of Laos-China economic and trade relations.As an international student,the author analyzes the current situation and opportunities of economic and trade development between Laos and China under the background of "One Belt and One Road" Initiative from the perspective of Lao people,studies the challenges and causes of Lao and China economic and trade cooperation,and puts forward countermeasures,hoping to provide reference for the common prosperity and development of Lao and Chinese people.The study found that the Lao and Chinese peoples have a long history of friendly exchanges.In recent years,bilateral trade has been expanding,and China’s investment in Laos has been increasing year by year,showing a steady momentum of development.However,there are also the following problems in the development of bilateral economic and trade.First,the trade structure between Laos and China is unbalanced;Second,infrastructure needs to be improved;Third,the border trade management system of the two countries is not perfect;Fourth,Laos needs to improve its business environment.Fifth,there are some differences in the commercial culture of economic and trade cooperation between the two countries.In order to promote the steady and healthy development of Lao-China economic and trade relations,based on the theory of comparative advantage,the theory of factor endowment and Marx’s theory of subdivision of labor,it is suggested to make improvements in the following five aspects: first,accelerate the complementary advantages of resources and technology of both sides,promote the complementary advantages of market and capital of both sides,and promote the transformation and upgrading of Laos’ industrial structure;Second,we need to strengthen infrastructure connectivity and use the Internet to optimize the flow of business and logistics information.Third,reduce trade barriers and improve the customs environment.We need to adjust the trade environment,create a sound competitive environment and consolidate win-win cooperation.Fourth,strengthen policy communication and coordination between the two governments,strictly investigate corruption and corruption,and foster a transparent business environment.Fifth,we need to strengthen the cultural and psychological foundation for our economic and trade cooperation through people-to-people and cultural exchanges.Ultimately,we should build the Belt and Road into a road of cooperation where the Lao and Chinese people work together to meet challenges,a road of health and safety,a road of recovery that promotes economic and social recovery,and a road of growth that unleashes development potential,so that the two countries can achieve high-quality development through mutual benefit and jointly build a community with a shared future for mankind.