Why Cambodia is pinning its hopes on Chinese president’s visit
Fresh from backing Beijing over South China Sea dispute, a country reeling from falling rice prices and foreign investment has its eyes on emergency aid and a boost in trade
Along the outskirts of Phnom Penh rice farmers have it tough. Prices have dropped by a third since August with targets of a million tons in exports failing to materialise, hurting producers like Path Chanthorn.
“Life is difficult. I borrowed from the bank to buy soil, seed and fertiliser,” the 47-year-old father of three said. “Then we lost all the rice and the family has no income.”
His plight has not been helped by late rains which have flooded his fields and upset planting for this country’s two million rice farmers who are now pinning their hopes on a two-day visit by Chinese President Xi Jinping ( 習近平 ). He lands here on Thursday.
Prime Minister Hun Sen and his long-ruling Cambodian People’s Party (CPP) have asked China for US$300 million in emergency aid and Asia’s longest serving leader also wants to see a lift in two-way trade to US$5 billion next year from US$4 billion in 2015.
Will Chinese money be enough to ward off dissent against Cambodian strongman Hun Sen?
He has also asked Xi to open the Chinese market to Cambodian-grown bananas in addition to doubling imports of rice from a current 200,000 tons a year, and loans for construction of rice mills, kilns and warehouses needed to reach government export targets.