On July 16, 2019, the US House of Representatives passed the “HR 526 Cambodia Democracy Act,” also known as the Cambodia Democracy Act of 2019. It was passed based on misleading information and even worse, ill-intention, ignoring the genuine democratisation process in Cambodia. In fact, it should be called “Hypocrisy Toward Cambodia Act”.
Cambodia is at the right juncture to seize opportunities amid a bright future ahead due to a strange combination of external circumstances
With China’s demographic dividends having gradually disappeared in recent years, production costs have definitely soared in the world’s second largest economy.
Cambodia is primarily reliant on coal and hydro for its power, and as we are aware, the hydro part is being constrained by low water flows in the Mekong. There are more coal-fired plants planned in Sihanouk Province and these will make a valuable addition.
The continued economic growth of Cambodia draws various theoretical opinions and forecasts from well educated people or so-called experts but do they have any effect?
Cambodia is among the fastest growing countries on the planet and hasn’t faced a recession for nearly three decades.
The extended trade war between the US and China is likely to deal a blow to the world economy particularly the Chinese economy but it is set to be a boon to the Asean region.
Within the context of looming economic pressures by the EU, analysts have drawn quick conclusions that Cambodia’s economy is going to collapse.
The dust had barely settled when the Cambodian government, revelling in its majority win for a renewed mandate, felt the blow from the European Union over its alleged general election manouvre to oust its opposition.
EBA status allows the world’s poorest countries to sell any goods tariff-free to EU nations, except weapons. About 48 countries are EBA beneficiaries including Myanmar, Lao PDR, Bangladesh, Nepal, and Timor-Leste.