For the Communists running Laos, the fruits of capitalism have never been so bountiful.
The Nam Phou fountain at the heart of the torpid capital, Vientiane, has transformed from a relic into a neon-lit phantasmagoria, surrounded by expensive restaurants. On the increasingly congested roads, the elite car choice is a Range Rover or, failing that, a Lexus.
This is the result of years of more than 8 percent growth, driven by commodities exports and a flood of investment from neighboring China, Thailand and Vietnam. The Laos stock market, the world's smallest, made its coy debut in 2011.
The boom in Laos, one of Asia's poorest countries, is not over, but serious cracks are starting to show. Economists warn the country of 6.7 million is facing the downside of a development model based on easy credit, resource exploitation and infrastructure mega projects.
"The economy is overheating," Ashvin Ahuja, who led an International Monetary Fund (IMF) delegation to Laos in September, told Reuters.
