The World Bank has revised its forecast for the expansion of the global economy for this year, bringing it down from the previous projection of 3.8 percent growth to a more modest 2.5 percent expansion. Even before it started, civilization continued to advance at a snail's pace despite the passage of time and the presence of the COVID-19 epidemic. The likelihood of the state defaulting on its ever-increasing debt is not something to be taken lightly, despite that this possibility exists.

Officials within the communist party have spent a significant amount of time over the course of many years discussing the possibility of diversification serving as a solution to the issue. According to projections published by the United Nations, China, Thailand, and Vietnam were responsible for around 80 percentage of the total money generated by Laos' exports in 2019. This year, some apparatchiks in Vientiane have been directing their attention toward South Korea, and as a direct consequence, a wave of new alliances and cooperation pacts have been inked between the two nations.

The problem that exists all around the world has its roots, for the most part, in the Western world. In 2016, the overall value of Laos' trade with the United States amounted to approximately $252 million, with just $218 million of the country's total exports finding a market in the United States. To put it in perspective, the whole value of Laos' commerce with China in 2016 amounted to $1.25 billion. Although exports from Laos only rose by 79 percent between 2010 and 2020, exports from Vietnam soared by 435 percent within the same time period, and exports from Cambodia increased by 184 percent. organization that has been entrusted with the duty of carrying out the census. The European Union is Laos' fourth largest commercial partner; however, the value of their commerce with the nation was just $500 million last year, which is equivalent to around 3.6% of the country's overall trade. This is despite the fact that the European Union is Laos' fourth largest commercial partner.

Some people who work in the business feel that things might be different if the nation of Laos, which is landlocked, had stronger connections to the rest of the region. A railway that cost $5.9 billion and was opened in 2017 to a great deal of fanfare now connects the towns of Vientiane and Kunming, both of which are located in the southern region of China. After the completion of a new set of rails, the link between Vientiane and the port of Laem Chabang in Thailand has become much more robust. There is a potential that a $5 billion railway connecting the deep harbor of Vung Ang in Vietnam to Vientiane in Laos might be just as significant. The government of Laos has ownership of sixty percent of the port, making it the most significant stakeholder in the port. This new railway, work on which is slated to begin in November, will offer a link between Vientiane, the capital of Laos, and Hanoi, the capital of Vietnam. Vientiane is the largest city in Laos, while Hanoi is the largest city in Vietnam.

In a recent briefing, the research company Dezan Shira & Associates, which has its headquarters in Vietnam, predicted that "shipments from Southeast Asia to Europe may take little more than ten days by rail" if certain new lines were built, the most notable of which was the Laos-Vietnam railway. This prediction was made on the assumption that certain new lines would be built. This forecast was developed taking into consideration the fact that work is now being done on the railway that connects Laos and Vietnam. In addition to this, it was said that "at the present moment, ASEAN exporters employ Singapore's large harbor as the key shipping hub," and that the amount of time it takes for cargo to reach in Europe is around 45 days. It would also give businesspeople in Laos the opportunity to capitalize on the achievements of their counterparts in Vietnam, who in July 2021 sent their first container to Belgium by freight train from Hanoi. This would give Laotian businesspeople the opportunity to ride on the success of their colleagues in Vietnam. Because of this, Laotian businesspeople would have the opportunity to capitalize on the achievements of their Vietnamese competitors.