The challenges posed by globalization for economic liberalization in two Asian transitional countries: Laos and Vietnam
Conclusion: Laos and Vietnam enacted economic liberalisation measures in a bid to transform their economies into versions of the more vibrant economic models that surrounded them in Southeast Asia. Half way through doing so, Laos and Vietnam's leaders saw the Asian crisis partially discredit the economic models that they were seeking to emulate. And to make matters worse, forces of globalisation now seem to point to a much more demanding liberalisation agenda than was initially envisaged, with implications that may include various additional socio-political perils. Possibly having psyched themselves up for a relatively brief dash to reach the 'transition line', the leaderships in Vientiane and Hanoi have discovered that globalisation is more like a long-distance endurance race. Whether Laos and Vietnam have the necessary stamina and volition to stay in the race remains to be seen.