Just as the stage seemed set for further growth, the four drivers of Cambodia’s economy—agriculture, garment exports, tourism and construction—were hit by changes in external conditions.
"Unlucky.” This was the assessment of the Cambodian economy by Vikram Nehru, the World Bank’s chief economist for East Asia and the Pacific, late last year. It certainly seems appropriate.
While citizens in just about every country in the region can blame the current global economic storm for at least some of their problems, Cambodians probably have more reason than most to feel aggrieved... Read more
3 comments:
Cambodia's economic growth has become increasingly reliance on the abilities of developed nations to sustain high rates of economic growth in their countries. When those countries are hit by economic storm not only that Cambodia can stay unaffected but also the pain Cambodia feels will be relatively substantial. This is a disadvantage when the economy is allowed to be linked too closely with the external demand and the economic policies of developed countries.
Bong eng forgot the word "not" again. Always morng. kekeke... "...not only that Cambodia can 'not' stay unaffected...".. A positive person pek forget this word many times a day. :P
Our economy is overly dependent, that's the problem. Although globalization and international trade are expanding, economies should strive to be independent enough for itself first before opening up to others. Virtually every aspect of our country's development and underdevelopment falls under the "dependency" theory, which is an unfortunate thing.
thx aun:P again and again and again always forget the word "not":)
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