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The World Heritage list of monuments and sites is extremely diverse. It draws a common denominator of a global heritage, especially based on the threat of destruction or deterioration. This paper presents some conclusions of a study conducted for the French Agency for Development on the World Heritage site of Luang Prabang in Laos, listed in 1995. We question the compatibility of local development with the character of global public sites. We analyze the complex economic effects of the labeling, when it ignores the legal, cultural and social peculiarities of the country. We discuss the scope and meaning of global public goods and the role of heritage assets in this context. The case study raises questions on the existence and relevance of universal values that may transcend the specific distinctions and justify, in the field of heritage, a symbolic loss of property.