China’s influence over economic and political affairs in Cambodia is undisputed. It is the biggest investor in Cambodia, adding nearly US$5.3 billion between 2013 and 2017, especially into real estate development, the garment industry and the tourism sector. For Phnom Penh’s SMEs, “new” Chinese migrants are an increasingly important clientele, and raw materials, machinery, consumer goods and capital from Greater China have been vital resources. At the same time, they face competition from entrepreneurs from China entering the Cambodian market. For Cambodia’s elite entrepreneurs, known as oknha, China is an export destination for Cambodian timber and cash crops, and “new” Chinese investments provide business opportunities in the form of construction contracts and joint ventures in real estate and tourism development, industrial parks or the energy sector. Recent Chinese investments and migrants have reinforced Cambodia’s established politico-economic order, which is characterized by ethnic Chinese economic dominance as well as a divide between the business-state elite and the general population.

China suffers from a trust deficit in the region, and Southeast Asian countries have adopted hedging strategies, at varying degrees, aimed at diversifying their economic and strategic interests from Chinese investments and influence. Cambodia considers China as an important strategic and economic partner in providing performance legitimacy and as a countervailing force against its immediate neighbours. Cambodia's economic overdependence and power asymmetry have enabled China to exert significant political leverage over the Kingdom, especially on international issues affecting Chinas core national interest such as the South China Sea dispute. Local communities are discontented with some Chinese investment projects, especially hydropower plants and land concessions, which have infringed on labour rights and environmental protection. Given the public resentment and dynamic changes and transformations of politico-social environment in Cambodia, China needs to address the concerns and issues raised by local communities in order to sustain and enlarge its political and economic footprint. Promoting good corporate governance, as well as social and environmental responsibility, would help.

New Chinese migration is a recent development that has just entered an initial phase. An overarching theme and conclusion across the sixteen chapters in this volume is that China’s policy towards Chinese migrants has changed from period to period, and it is still too early for us to determine if Beijing will continue to pursue the policy of luoye guigen (return to original roots) or will revert to one of luodi shenggen (sink into local roots). The various chapters also show that the profile, motivations and outlooks of xin yimin (new Chinese migrants) have become more diverse, while local reactions to these new migrants have become less accommodating with increasing nationalism.

Cambodia, like its regional peers, offers a number of tax incentives to investors. This paper reviews these incentives to assess their costs and benefits, including their likely effectiveness in attracting capital and in supporting the diversification strategy. It finds that an important incentive, the tax holiday, differs materially from practice elsewhere in offering a deferral rather than exempting from tax and may not be very effective. Moreover, other features of the tax system, such as the high withholding rate on dividends, imply relatively high effective tax rates for foreign investors. The paper discusses potential reforms that weigh revenue and other costs of tax incentives against the need for a competitive tax system, including a shift from tax holidays toward investment allowances.

In the third decade of the 21st century, Asia remains the global center of economics, politics and security. Asia is at the forefront of wealth creation, innovation, and sustainability. There is a growing demand for knowing more about Asia. This Major Reference Set (MRS) is designed to help general readers as well as specialists to have a good grasp of the latest developments in Asia in the key areas of geopolitics, geoeconomics, and sustainability.With 3 volumes, this MRS covers all major dimensions of Asia's political economy, regional security, and sustainable development. Volume 1 unpacks and examines geopolitics and foreign policy strategies of key Asian states in response to major security challenges associated with growing US-China rivalry.Volume 2 covers geoeconomics, entrepreneurship, regional integration, and development models. Trade, investment, innovation, and regional cooperation have been essential to Asia's continued success.Volume 3 offers a critical overview of environment, public health, and human security in Asia. Case studies are selected from countries that are at different stages of development and facing different environment and health challenges today.This interdisciplinary MRS is a fine example of international cooperation, with contributors who are all established scholars and experts in their fields of study hailing from different parts of Asia as well as North America and Europe. It is a must-have for anyone keen on understanding Asia's dynamic development and daunting challenges in the post-COVID world.

After the end of the Cold War, it seemed as if Southeast Asia would remain a geopolitically stable region within the American-led order for the foreseeable future. In the last two decades, however, the re-emergence of China as a major great power has called into question the geopolitical future of the region and raised the specter of renewed great power competition. As the eminent China scholar David Shambaugh explains in Where Great Powers Meet, the United States and China are engaged in a broad-gauged and global competition for power. While this competition ranges across the entire world, it is centered in Asia. In this book, Shambaugh focuses on the critical sub-region of Southeast Asia. The United States and China constantly vie for position and influence across this enormously significant area--and the outcome of this contest will do much to determine whether Asia leaves the American orbit after seven decades and falls into a new Chinese sphere of influence. Just as importantly, to the extent that there is a global "power transition" occurring from the US to China, the fate of Southeast Asia will be a good indicator. Presently, both powers bring important assets to bear in their competition. The United States continues to possess a depth and breadth of security ties, soft power, and direct investment across the region that empirically outweigh China's. For its part, China has more diplomatic influence, much greater trade, and geographic proximity. In assessing the likelihood of a regional power transition, Shambaugh examines how ASEAN (the Association of Southeast Asian Nations) and its member states maneuver and the degree to which they align with one or the other power.

China’s trade patterns are evolving. While it started in light manufacturing and the assembly of more sophisticated products as part of global supply chains, China is now moving up the value chain, “onshoring” the production of higher-value-added upstream products and moving into more sophisticated downstream products as well. At the same time, with its wages rising, it has started to exit some lower-end, more labor-intensive sectors. These changes are taking place in the broader context of China’s rebalancing—away from exports and toward domestic demand, and within the latter, away from investment and toward consumption—and as a consequence, demand for some commodity imports is slowing, while consumption imports are slowly rising. The evolution of Chinese trade, investment, and consumption patterns offers opportunities and challenges to low-wage, low-income countries, including China’s neighbors in the Mekong region. Cambodia, Lao P.D.R., Myanmar, and Vietnam (the CLMV) are all open economies that are highly integrated with China. Rebalancing in China may mean less of a role for commodity exports from the region, but at the same time, the CLMV’s low labor costs suggest that manufacturing assembly for export could take off as China becomes less competitive, and as China itself demands more consumption items. Labor costs, however, are only part of the story. The CLMV will need to strengthen their infrastructure, education, governance, and trade regimes, and also run sound macro policies in order to capitalize fully on the opportunities presented by China’s transformation. With such policy efforts, the CLMV could see their trade and integration with global supply chains grow dramatically in the coming years.

This in-depth coverage of Cambodia's local attractions, sights, and restaurants takes you to the most rewarding spots-from the ornate temple of Angkor Wat to the amazing street food of Phnom Penh to the gorgeous beaches of Sihanoukville-and stunning color photography brings the nation to life. The locally based Rough Guides author team introduces the best places to stop and explore, and provides reliable insider tips on topics such as driving the roads, taking walking tours, or visiting local landmarks. You'll find special coverage of history, art, architecture, and literature, and detailed information on the best markets and shopping for each area in this fascinating country. The Rough Guide to Cambodia also unearths the best restaurants, nightlife, and places to stay, from backpacker hostels to beachfront villas and boutique hotels, and color-coded maps feature every sight and listing. Make the most of your time with The Rough Guide to Cambodia.

This volume presents a contemporary analysis of the impact of China's rise on the Mekong Region at a critical point in Southeast Asian history. As the most populated country and the second largest economy in the world, China has become an increasingly influential player in global and regional affairs in recent decades. Economic ties between China and her southern neighbors are particularly strong. Yet relations between China and the Mekong region are embedded in complex socio-cultural and political issues. China's accelerated growth, increasing economic footprint, rapid military modernization, and global search for energy, natural resources, and food security have created a wide range of new challenges for smaller countries in Southeast Asia. These new challenges both encourage and limit cooperation between China and the emerging ASEAN Economic Community (AEC). The authors pay close attention to these challenges with particular focus on the impact of Chinese investment, trade, foreign aid, and migration.