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Showing posts from November, 2008

Will Cambodia catch the cold?

When the US sneezes, the whole world catches the cold. It is of course true because the US is the most powerful country in both politic and economy. The current financial crisis is a clear example. The US banking system and corporations are facing unstable situations; public spending is down. Economic transactions between the US and the world are less. As the result, the world export to the US decreases. The main focus here is whether Cambodia is among the cold catchers. It is hard to deny that Cambodia is still healthy while others have already been affected. Some predictions, including the IMF and World Bank, say the country's garment sector, which depends heavily on the US market, will affect by the US consumer saving. But this is somehow not really true. Americans at this financial crisis period try to cut their spending on luxurious commodities. The General Motor example of being bankruptcy is a sign that cars are not American choices anymore. Cambodian garment, on the other h...