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
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