Cambodia
Cambodia’s big old friend : China
Cambodia’s persistent infatuation with China was blatantly displayed on the world stage in 2012 when, as ASEAN Chair, it refused to address the territorial disputes in the South China Sea. This widely commented incident once again underscored the close relationship between both countries.
Cambodia’s persistent infatuation with China was blatantly displayed on the world stage in 2012 when, as ASEAN Chair, it refused to address the territorial disputes in the South China Sea. This widely commented incident once again underscored the close relationship between both countries.
Cambodia falls to China’s charm does not come as a surprise. The benefits from being among China’s most favoured nations are quite obvious. Cambodia receives Chinese investments and economic and military aid, both in kind and money, with ‘no strings attached’ — as the saying goes. The Cambodian government depicts China as a big old friend, a friendship that goes back a long time in history and one that has survived many regime changes. The friendship between China and the current regime in Phnom Penh was confirmed after the 1997 coup.
The coup saw the leader of the Cambodian People’s Party, Hun Sen, oust then Prime Minister Prince Norodom Ranariddh, undoing the efforts of the international community to administer peace and good governance in the country since the Paris peace agreements in 1991
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Why China charms Cambodia
Cambodia
Cambodia Issues Tenth Round of Stimulus Measures
The tourism industry contributes 12 percent of GDP and the government views this industry as an indispensable path towards economic recovery. As such, the government also plans to attract seven million tourists by 2025 and 11 million domestic tourists by 2023.
On October 28, 2021, Cambodia issued its tenth round of stimulus measures to help specific industries mitigate the economic impact caused by the ongoing pandemic. These latest measures are an extension of the support provided in the ninth stimulus package, which was issued in June 2021.
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CLMV economies Outlook by EIC Q1/2021
Within the region, Vietnam’s economy is projected the fastest growth due to ongoing strong exports performance for electronics products and a resilient domestic economy.
The global recession and COVID-19 pandemic heavily affected CLMV economies in 2020, resulting in major slowdown in Vietnam and Myanmar whereas Laos and Cambodia faced economic contractions from additionally specific negative factors.
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