Economic Developments After Independence
The predominance of agriculture and the lack—or neglect—of real industrial development have characterized Cambodia's modern economy since independence in 1953. Wet rice cultivation traditionally has played a key role in peasant subsistence, in national self-sufficiency in food production, in trade relations with other states, and in governmental revenues for national development. Conversely, the government has made few attempts to industrialize the nation., acquiesced to a pragmatic combination of socialism and small-scale capitalism, and the country achieved some limited rehabilitative goals. In the late 1980s, government policies fundamentally relied upon the nation's own sparse resources—chiefly agriculture, a nascent industrial base, and modest foreign aid from Comecon countries and nongovernmental international organizations.
Read more about this topic: Economic History Of Cambodia
Famous quotes containing the words economic, developments and/or independence:
“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it—to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”
—Lyndon Baines Johnson (1908–1973)
“The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization, and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture.”
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“We commonly say that the rich man can speak the truth, can afford honesty, can afford independence of opinion and action;—and that is the theory of nobility. But it is the rich man in a true sense, that is to say, not the man of large income and large expenditure, but solely the man whose outlay is less than his income and is steadily kept so.”
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