A Retrospect of 2023 and Looking Ahead to 2024in Cambodia
The year 2023 marks a historic transition of Cambodian leadership and its political,economic and diplomatic tran-sition has been generally smooth.Politically,the younger generation,under the leadership of Hun Manet,smoothly took overto en-sure a good start for the new government.The Cambodia People's Party(CPP)first signed alliance agreements with 27 small and medium-sized political parties,temporarily resolving the problem of the proliferation of political parties and political disagree-ment,and then put forward and implemented the"people-oriented"policy projects,eliminating the political risks of uncertainty brought about by the transitionto enable the government to ride out the special"new-old transition"in a more stable manner.Eco-nomically,the government downgraded its economic outlook,but GDP growth was still 5.6％.This is mainly due to the effect of overall improvement of agriculture,steady development of industry and the growing trend of the service industry.However,the highly dollarized economyand the inappropriate proportion of the three sectorsare still hidden worries in the process of Cambo-dia's economic development.Diplomatically,the new government reaffirmedits diplomatic principles,implemented the strategy of"great power balance",upgraded the China-Cambodia relations,experienced a new turn in Cambodia-US relations,and further strengthened the special relations between Cambodia and Vietnam.In 2024,Cambodia's new governmentwill actively implement the first-phase plan of the Five-Corner Strategies.In the context of budget reduction,Cambodia aims to enhance its economic re-silience and achieve a GDP growth rate of 6.6％through broadening sources of income and reducing expenditure.Under the strat-egy of"great power balance",Cambodia will continue to deepen relations with China and play down differences with the US,opening up a new phase of diplomacyto establish more open and inclusive international relations of cooperation.
CambodiaHun ManetFive-corner strategygreat power balance2024 Cambodia-China People-to-People Ex-change Year
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