Questions about example sentences with, and the definition and usage of "Lao"

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Q: The Lao People’s Democratic Republic (Lao PDR) has achieved impressive economic growth with GDP growth averaged 7.7% in the past decade. However, high levels of growth driven by the exploitation of natural resources and foreign investment have not translated into commensurate reductions in poverty, as its Gini coefficient is 36.7 this year. Does this sound natural?
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Q: As Lao Tzu, an ancient Chinese philosopher and writer quotes, “A good traveler has no fixed plans, and is not intent on arriving.” Stay the way i am, have faith and try my best to bring happiness to every corner of the earth. To be a real traveler, not a tourist, it’s better to travel well than to arrive. Does this sound natural?
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lao

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