Concern Over Chinese Investment

Cambodia’s largest opposition party has expressed concern that China’s investment in the country is heavily skewed towards exploiting natural resources, wreaking havoc on the environment. China is Cambodia’s largest investor by a wide margin, having poured U.S. $9.7 billion into the country over the past 18 years, a government report said Wednesday. … But opposition Sam Rainsy Party lawmaker Son Chhay warned that China is having excessive control over Cambodia’s natural resources as companies from the Asian giant carry out extensive mineral exploration and logging and embark on hydropower projects in the impoverished country. … Cambodia, Beijing’s top Southeast Asian ally, has borrowed vast sums from China in recent years to finance road, hydropower and defense projects, many of which are contracted to Chinese firms. “China gives us loans, but they allow companies to set high prices,” Son Chhay said. Cambodia owes about U.S. $3 billion dollars in loans from China, he said, adding that the debt gives the giant neighbor too much political influence in the country. …

http://www.rfa.org/english/news/cambodia/china-02072013175545.html