Chinese chief Xi Jinping urged Cambodia to “resist protectionism” when he arrived in Phnom Penh on Thursday (April 17) at the end of a Visit to three nations in Southeast AsiaAs American prices threatened the economies of both countries.
Cambodia is a major exporter of clothing and shoes in the United States, and was slap with a rate of 49%One of the highest in the world, before “reciprocal” tasks have interrupted until July for most countries, with the exception of those who are confronted 145% combined prices.
In an article published Thursday morning on the Cambodian media, Xi urged Phnom Penh to oppose “hegemonism” and “protectionism”, repeating the messages he sent earlier this week to Vietnam and Malaysia in the first two legs of his trip.
Phnom Penh is a partner close to China, which has invested billions of dollars in projects such as roads and airports, and is the largest creditor in the country.
“We are expecting more cooperation, including the development of infrastructure,” said Reuters the day before Xi in Phnom Penh in Reuters.
He answered a question of whether Cambodia expected Beijing to announce Financial support for a 180 km channelwhich is the most ambitious infrastructure project in the country.
XI, who has a road named after him on the outskirts of the capital, praised the positive economic impact of previous Chinese infrastructure projects, is committed to continuing to “unwaver support” the development of Cambodia, but did not mention any specific project in its statements on Thursday.
The Cambodian government said that China would pay for the Funan Techo canal, which would extend from the Mekong river, from a site near Phnom Penh, to the coast on the Gulf of Thailand, diverting the water from the fragiles of the Mekong Delta which pushes the rice and reducing Cambodian expedition through Vietnamese ports.
Until now, China has made no public financial commitment to the project, while Phnom Penh has changed its declarations on Chinese engagement of coverage of 100% to 49% of total costs, estimated at $ 1.7 billion, or almost 4% of Cambodia gross domestic product.
Beijing did not sign any new loan to Cambodia last year, according to official Cambodian data, a contrast marked with previous years when he has lent hundreds of millions of dollars to the country.
The drop in financing occurred while China reduced overall investments abroad in the midst of internal economic misfortunes and concerns about unsuccessful projects.
