Chinese money flocks to dollar-based Cambodian economy

Phnom Penh starting to seek economic growth based on national currency.

It may be surprising to know that Cambodia’s economy boasts the highest growth rate in Southeast Asia, the region seen as the engine of the global economy.

Many people may consider Vietnam to be growing more strongly than other members of the Association of Southeast Asian Nations, with it drawing much attention as a destination for Chinese manufacturing operations amid the U.S.-China trade war.

But as a less-developed country, Cambodia has particularly strong potential for growth. The International Monetary Fund forecast in its Regional Economic Outlook released in mid-October that Cambodia’s gross domestic product will grow 7% in 2019, far outpacing Vietnam’s 6.5%.

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