Phnom Penh (FN), April 20 - The Chinese Embassy in Phnom Penh stated Saturday that the US is trying to stir things up again with the so-called trade deficit issue.
“State-to-state relationship is not just about trade,” the Embassy underlined.
“China has built 31 highways and 8 bridges for Cambodia with the total length of highway up to more than 3000 km. What has the US done in this area? China helped to build all the hydropower stations in Cambodia (with 80% of Cambodia’s installed electricity production capacity). How about the US?” Chinese Embassy questioned the US Embassy Phnom Penh.
“It is common sense that in a globalized world, trade goes far beyond bilateral,” the Chinese Embassy further stated.
It explained that in the case of Cambodia, it imports large amounts of textile raw materials and machineries from China for the garment industry, while exports final products to all over the world, US and EU included. In between, it is the hard work of industrious Cambodian workers.
The Chinese Embassy’s statement came after the US accused Cambodia of shifting from a more balanced and diverse economic approach to one more dependent on China.
"China is Cambodia’s largest trade partner, but this relationship is heavily skewed in China’s favor. About 87% of trade are Chinese imports, which do not support jobs or industry in the same way Cambodia’s trade relationship with the United States or EU does," the Embassy wrote, attached with trade statistics according to the US Embassy's Facebook page on Friday.