Sunday, October 28, 2012
A vote on Friday fomally approved Laos's application to join the World Trade Organization. The Wall Street Journal, reporting on the developmnt, said that over the longer term, Laos's membership in the WTO "is expected to provide a bade of approval for the country that could make it easier for global firms to do business there, especially as manufacturers look for substitutes for China, where wages have risen rapidly." Patrick Barta, "Laos Comes of Age as a Trading Partner," Wall St. J., Oct. 27-28, 2012, at A9. Laos's membership also will "help make it easier for Southeast Asian leaders to make investors view the region as one giant market, with the ability to connect supply chaines acoress its 10 countries, all of which will now be subject to WTO mechanisms for the first time." Id.