Cambodia and the ASEAN Economic Community: Golden Opportunity for Ethnic Chinese in Cambodia

Abstract

“Chinese Capitalism” began transplanting and rooting into Cambodian economic system since the arrival of Chinese migrants in the Khmer Kingdom in between fifteenth and twentieth century and has been widely acknowledged in Khmer society. Under the context of economic regionalization that led to establish the ASEAN Economic Community, Cambodia is committing to position herself for benefiting from AEC. This commitment is creating further opportunity for the ethnic Chinese known as “Chinese Cambodian”, whose capitalist system and culture were revitalized in early 1990s and blooming nowadays, to rise culturally, economically and politically. That rise will be contributing to increase Chinese influence on the region and the world as well. At least, there are two reasons to claim that: first, the Chinese–Cambodian community have been prominent in business sector for generations and playing a key role in current economic development and second, the relationship between Cambodia and China has been developed very well to be “Comprehensive Strategic Partnership of Cooperation”. As a global economic power, China has been positioning itself as Cambodia’s most important economic partner while Cambodia needs China as backbone for economic and political sphere. Currently, Chinese aids and investments are driving rapid development, particularly in the commercial property, infrastructures and energy sectors, and opening Cambodia as a supplier and trade conduit to the AEC.