1. The Belt and Road Initiative in Cambodia: Costs and Benefits
- Author
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Menon, Jayant
- Subjects
Belt and Road Initiative, 2013- -- Economic aspects ,Poverty -- China -- Cambodia ,Medium term notes -- Economic aspects ,Economic growth -- Economic aspects ,Business ,Economics ,Business, international ,Asian Infrastructure Investment Bank - Abstract
China is Cambodia's largest bilateral donor, lender, investor, and trading partner. Economic relations between the two countries have been strengthened by Cambodia's active participation in the Belt and Road Initiative (BRI). However, participating in the BRI has both costs and benefits. It has addressed Cambodia's infrastructure deficits, reduced trade and transport costs, and supported productivity and economic growth. This has improved living conditions and reduced poverty. On the negative side, there are concerns over environmental decay, land grabbing, and associated losses in livelihoods. On the whole, benefits appear to outweigh costs in Cambodia. Nevertheless, China is trying to improve the environmental, social, and financial sustainability of BRI investments, following international criticisms. Although there are early signs that the implementation of projects is becoming more environmentally friendly, concerns over inadequate environmental impact assessments and resettlement programs remain. Increasing reliance on one country also carries risks; diversifying sources may help achieve Cambodia's aim of diversifying its economic structure. Keywords: Cambodia, China, Belt and Road Initiative (BRI), costs and benefits, infrastructure development, land grabbing, environmental decay., 1. Introduction It is widely recognized that Cambodia and China have a strong and special political and economic relationship. Perhaps what is less well known is how old this relationship [...]
- Published
- 2024
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