Preview

Student Satisfaction Toward Library

Powerful Essays
Open Document
Open Document
5350 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Student Satisfaction Toward Library
CDRI - Cambodia’s Leading Independent
Development Policy Research Institute

Policy brief
Jayant Menon *, a)

2008 , N o . 01

De-Dollarising Cambodia: 10 Years On

“For a long time it seemed that the extent of… dollarization was impervious to improved economic performance. Now however we have several examples of countries that have dedollarized successfully… including Israel, Poland, Mexico, Egypt, and Turkey. And some signs of declining dollarization are evident in Latin American countries where it seemed that dollarization was impossible to reverse.” Stanley Fischer (2006) Governor, Bank of Israel 1. Introduction Ten years ago I wrote an article for the Cambodia Development Review (Menon 1998) on the pros and cons of dollarisation in Cambodia, and policy options on the way forward. A lot has happened since then. GDP growth has averaged close to 10 percent over the past decade, resulting in an almost doubling of income per capita (Table). Poverty incidence is estimated to have fallen by about 1 percent per annum (from 47 to 35 percent, for the decade up to 2004), even though inequality has worsened (World Bank 2007). Consumer price inflation has fallen sharply, from an average of 56 percent over 1990–98 to an average 3.5 percent over 1998–2007. Inflation has started rising again recently, with the spike in food and energy prices, but this is happening almost everywhere.1 Government revenue collections have recently consistently exceeded expectations, and the budget deficit has
1

fallen to manageable levels. The recent discovery of oil and gas could be a significant boon for the country, and should provide the resources necessary to address a range of socio-economic issues, provided of course that the resources are not mismanaged. In short, the economic and social achievements over the past decade have been the most spectacular in Cambodia’s history. It is against this backdrop that we find that Cambodia today is as dollarised, if not more so, as it

You May Also Find These Documents Helpful

  • Powerful Essays

    Pol Pot's Legacy

    • 3624 Words
    • 15 Pages

    In the years of 1975 to 1979, Pol Pot became the head of the most murderous revolution of our time. His communist regime with the Khmer Rouge created one of the largest, yet greatly under-looked atrocities of the time. The genocide in his Democratic Kampuchea has created a death toll that could be as high as 3,000,000 people, or 25% of the country's population. (Chandler, 1999; Cambodia Genocide) In an attempt to refashion his country, "people were simply sacrificed to our struggle, not killed," as Pol Pot himself stated. (Pol Pot: Life of a Tyrant, 2000)…

    • 3624 Words
    • 15 Pages
    Powerful Essays
  • Better Essays

    When the people in the outside world were living the life of their dreams, the Cambodians were left all alone with their broken hearts that’s been shattered into pieces. It was the time period between 1975 and 1979, when the Khmer Rouge organized the mission to “reconstruct Cambodia on the communist model of Mao’s China.” (Peace Pledge Union) Many intellectuals and educated people at the time were eliminated, along with their extended family and their affiliates. According to The Angry Skies, “Cambodians that are associated with the Americans were put to death because they were considered traitors of the country.” (The Angry Skies) In addition, many babies and people that had shown tears in front of the Khmer soldiers have been killed because crying was considered a crime to the government. This process has embedded an image of destruction to Cambodians, and some survivors now are still afraid that they may be killed due to their possibilities of testifying against the Khmer Rouges. The few survivors had worked as laborers with no source of income coming from the government, and because of the limited supplies of food, they had to eat whatever they can find to stay on their feet. A documentary, Among the disappeared, counted “1.7 million deaths caused by the Pol Pot, which is a one fifth of the population in Cambodia at the time.” (Among the disappeared)…

    • 2363 Words
    • 10 Pages
    Better Essays
  • Powerful Essays

    Us Invasion of Cambodia

    • 1397 Words
    • 6 Pages

    “The banyan tree grows throughout Cambodia. It may reach a height of over 100 feet, and as it grows, new roots descend from its branches, pushing into the ground and forming new trunks. The roots grow relentlessly; many of the ancient temples of Angkor have toppled as these roots have become embedded in the cracks and crevices between their massive stones. A single tree might have dozens of trunks, and it is often impossible to tell which is the original.…

    • 1397 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Xavier University of Louisiana is the only Catholic historically black college university on this side of the Western Hemisphere. A college that stands out such as Xavier, must pay very close attention to every aspect of the campus to maintain its prestigious name. A big part of Xavier’s reputation relies on the moral of its students. With that being said, I know three surefire ways to make it easier for students to be happy at Xavier. The first way to ensure student happiness on campus would be to make sure that there is a greater variety of food in the café. The next item to address would be to ensure that positive reinforcement is being used in the classroom. Lastly, but most importantly would be to extend the hours of visitation to those…

    • 201 Words
    • 1 Page
    Good Essays
  • Satisfactory Essays

    If you are to ask my parents why we moved here? They would say “Education”. In Cambodia the educational system is fragile and very much susceptible to corruption. What do I mean by corruption? Let just say $10,000 could indeed get you a graduate degree and thus make you certified to be a doctor. In contrast the education here, however, is very rigorous which leads to my new topic, opportunity.…

    • 350 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    As a small country with weak political, economic, and military structure, Cambodia has suffered for centuries from poor leadership and outside influence. The Cambodian genocide of 1975-1979, in which approximately 1.7 million people lost their lives (21% of the country 's population), was one of the worst diabolical tragedies the world has laid witness to. The Khmer Rouge -- the name given to the followers of the Communist Party of Kampuchea -- was the totalitarian ruling party in Cambodia led ruthlessly by Pol Pot. The Khmer Rouge forced an entire population into rural manual labor under brutal supervision.…

    • 5078 Words
    • 21 Pages
    Powerful Essays
  • Powerful Essays

    History Place - Genocide in the 20th Century: Pol Pot in Cambodia 1975-1979. N.p., n.d.…

    • 3676 Words
    • 15 Pages
    Powerful Essays
  • Good Essays

    “A person without the knowledge of their past history, origin, and culture is like a tree without roots.” Marcus Garvey. What do you think of when you hear the word Cambodia? Do you think of the dirty water? The cows? The hard working rice pickers? The poverty? What does being Cambodian mean to you? To me, it means a lot. If I never knew that I am Cambodian, things would be a whole lot different. There’s a certain way in which we speak, believe, dress, and celebrate traditional events. With me explaining a little bit on those certain topics will make you realize how much of an impact it is upon me and other Cambodians.…

    • 1056 Words
    • 5 Pages
    Good Essays
  • Powerful Essays

    The Cambodian Killing Fields occurred from 1975-1978 and under Khmer Rouge's rule, hundreds of thousands of Cambodians died from execution, forced labor, disease, and starvation. The Khmer revolution is known as one of the most destructive genocide in history. The revolution reversed class order, destroyed all markets, banned private property and money. The Killing Fields is not only historical for what it accomplished but for what it destroyed. Although this tragedy happened over a generation ago, Cambodians are still struggling today to fully recover as a country and they have unresolved impunity and corruption in their society and law as a direct result of the Cambodian genocide (Rennie, 2016).…

    • 1425 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    The crucial difference between unofficial and official dollarization is whether the foreign currency is used voluntarily by residents even though it is not legal tender or whether it is officially recognized as legal tender by the government. Official or full dollarization is a complete monetary union with a foreign country from which a country imports a currency, by making the foreign currency full legal tender and reducing its own currency.1 Officially dollarized economies also have few or no restrictions on capital account transactions, and transactions for external payments are relatively free. The use of the foreign currency in their domestic economies is often necessitated by virtue of their openness and heavy reliance on trade (and factor mobility) with their larger…

    • 2434 Words
    • 10 Pages
    Better Essays
  • Satisfactory Essays

    The Cambodian Genocide could be considered the worst terror to ever come upon Cambodia. This paper will be discussing the Cambodian Genocide and the events that happened during so. It will also go over each of the eight stages of genocide and how each ties into the Khmer Rouge and Pol Pot’s actions during their rule of Cambodia. The Khmer Rouge and Pol Pot took over April 17, 1975 and lasted until January 6, 1979 when they were overthrown by next door Vietnam on December 25, 1978. Approximately 1.7 million people were killed during this time all the way from execution all the way to starvation and exhaustion. Pol Pot died in 1998 without facing any punishment. Pol Pot’s impact on Cambodia was among one of the worst genocides of all…

    • 132 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    In today’s current society, it is prevalent of current change. In its day and age material and non-materialism is surrounded with ever lasting culture changes. Cambodia has many differences and stretches the materialistic culture while the U.S. is more prominent in the non-materialistic culture. Despite their differences the U.S. and Cambodia distinctly show some similarities throughout the film.…

    • 303 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Transition- The history of human trafficking has created an environment which makes human trafficking acceptable, but also difficult to fight because of the difficult circumstances Cambodia places its slaves under.…

    • 844 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Economic History of Cambodia

    • 5990 Words
    • 24 Pages

    Cambodia was a farming area in the first and second millennia BCE. States in the area engaged in trade in the Indian Ocean and exported rice surpluses. Complex irrigation systems were built in the 9th century. The French colonial period left the large feudal landholdings intact. Roads and a railway were built, and rubber, rice and corn grown. After independence Sihanouk pursued a policy of economic independence, securing aid and investment from a number of countries. Bombing during the Vietnam War damaged rice production. Lon Nol had a policy of liberalising the economy. This was followed by the victory of the Khmer Rouge and the emptying of the cities. After the defeat of the Khmer Rouge, a Five Year Plan was adopted, aiming to improve agriculture, industry and distribution, with a slogan of "export and thrift". Today, Cambodia remains a largely agricultural economy and industrial development is slow.…

    • 5990 Words
    • 24 Pages
    Good Essays
  • Best Essays

    A tragic fact that plagues the world today is the practice of selling humans as chattel every day. Reduce, reuse, and recycle is not only just a motto for a greener environment, but also a concept that can be applied to selling human lives. The oppressors reduce the millions of victims that are enslaved into the human trafficking system to objects to sell. The victims are reused daily by their buyers and are recycled by society. It is a worldwide epidemic, but human trafficking is particularly horrifying in Cambodia. Situated between Thailand, Vietnam, and Laos in South-East Asia, the situation in Cambodia is often overlooked. The history of this small country tells an unstable and disconcerting story that has deeply affected how it functions today. The culture, economy, and societal norms have exacerbated and justified the act of selling people. The poor infrastructure in Cambodia’s culture, economy, and government can be seen as a great contributor to the presence of human trafficking.…

    • 3413 Words
    • 10 Pages
    Best Essays