• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Nobel Prize-Winning Research Highlights Cambodia’s History of Extractive Institutions
Finance

Nobel Prize-Winning Research Highlights Cambodia’s History of Extractive Institutions

October 28, 2024No Comments6 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Nobel Prize-Winning Research Highlights Cambodia’s History of Extractive Institutions
Share
Facebook Twitter LinkedIn Pinterest Email

Earlier this month, Daron Acemoglu, Simon Johnson, and James Robinson were awarded the Nobel prize in economics for their work on how colonial institutions are a key determinant of whether countries become rich or poor.

The basis of their work is a paper published in 2001 which led to a book by Acemoglu and Robinson, “Why Nations Fail: The Origins of Power, Prosperity and Poverty,” which came out in 2012. The essence of their argument is that the wealth and poverty of countries depends on the kind of institutions they have. Inclusive institutions, which protect property rights and democracy, are more likely to achieve sustainable economic growth. Countries which rely on “extractive institutions” to concentrate wealth in the hands of a ruling elite are more likely to remain stuck in poverty.

The period of European colonialism is identified as a key time in the formation of these institutions. The model says that colonial institutions were more likely to be inclusive where European settler societies emerged, and more likely to be extractive where colonialism operated in the absence of large European settler populations.

The claims can of course be contested on historical grounds, and some have reacted to the Nobel award with disappointment at the exculpatory implications for at least some colonial regimes. It’s a reasonable objection. Try telling an Algerian, a black South African, or a Kenyan, for example, that European colonial settler societies tended to lead to inclusive institutions and prosperity. The prize winners, however, are economists, not historians. Their work provides an analytical model (among many other models) which historians can use. Any specific empirical case study is unlikely to fit the model exactly.

Cambodia during the colonial period fits the model well, but its trajectory since the Khmer Rouge period of 1975 to 1979 moves it outside the bounds of the current developmental debate. France established a protectorate over Cambodia in 1863 and integrated the territory into French Indochina in 1887. Cambodia, along with Laos, had very low policy priority for the French colonialists. The number of French settlers in Cambodia was tiny, and colonial administrators oscillated between ignoring the territory and trying to find commercial advantages there. French attempts to improve health and educational provision within the region were heavily concentrated on Vietnam, which was overwhelmingly likely to provide local colonial officials.

See also  Black History Month and the Term ‘African-American' Are Insulting

The Khmer Rouge period saw the creation of what was probably the ultimate extractive state, with citizens having unlimited responsibilities with zero reward beyond possibly being allowed to remain alive. The extractive nature of the system survived the demise of the Khmer Rouge. Research by Jean-Christophe Diepart and Laura Schoenberger has shown that the modern system of Economic Land Concessions that the Hun Sen regime has routinely used as a form of patronage, at the expense of those living on the land, and who needed to be displaced, has French colonial origins. The French used the land concessions as ways to ensure that colonial forest rents could be maintained, and output from rubber plantations maximized. After the fall of the Khmer Rouge, Diepart and Schoenberger found, the concession system enabled the centralization and control of power by Hun Sen at the expense of opposition and ruling party rivals.

Nobel laureates Acemoglu and Robinson argue in their 2012 book that economic growth may be possible in countries with centralized extractive institutions such as Cambodia, Vietnam, Rwanda, Burundi, and Ethiopia, but that growth will not be sustained. Among those five countries, Cambodia stands out as an especially difficult case. The other four all clearly have more functional states than Cambodia, though all are highly repressive. Rwanda under Paul Kagame was a central mover behind the creation of the African Continental Free Trade Area. Ethiopia, which had its own communist revolution in 1974-75, has undergone partial financial liberalization under current prime minister Abiy Ahmed, and is in the process of launching a stock market. Whether these initiatives will create prosperous and stable societies is still impossible to know.

See also  Picking and Choosing Tokens to Prosecute Is 'Pretty Unfair,' Says Former SEC Cyber Chief

Cambodia has no such signature achievement or bold reform program. Forty-five years after the overthrow of the Khmer Rouge, the country remains a least developed country (LDC). The government’s old target of ending LDC status by 2025 has slipped first to 2027, and now to 2029. The country’s institutions have remained extractive, with the land rights which were abolished under the Khmer Rouge never having been solidly re-established. Hard land rights in Cambodia today are reserved for the ruling elite, while most citizens have only soft property rights which can be revoked at any time.

Whether highly centralized economies run by dictatorships can be internally reformed to create open and prosperous societies is an open question. Many historians would probably answer that no accurate generic answer is possible, and that the outcomes in individual cases are likely to vary widely. The range of possible outcomes becomes even wider when an extractive state such as Cambodia becomes reliant on organized crime for a large chunk of its national income.

The only growth industry in Cambodia today is forced criminality. The country’s extractive institutions have made Cambodia the ideal location for the cyber-scam compounds operated by the Chinese mafia. The United States Institute for Peace has estimated that cyber-slavery compounds are generating at least $12.5 billion per year, or about half the country’s official GDP, with the complicity of the Cambodian government. According to new research from the Cambodia Counter Trafficking in Persons (CTIP) project, 2024 has seen a trend of cyber-scam compounds being moved from Myanmar to Cambodia, with the latter being judged by the criminals to be the safer operating environment. The CTIP estimates that there are now at least 350 cyber-slavery compounds in Cambodia, drawing up the “largely involuntary labor” of 150,000 people from at least 22 countries.

See also  UK inflation rate surprises again with March figure holding above 10%

There are no policy textbooks about how to deal with a state which allows mass forced criminality on such a scale to flourish. It’s hard to see how progress can be made on cyber-slavery in Cambodia until China and the U.S. agree to work together on the issue. Citizens of the two countries suffer more from cyber-slavery in Cambodia and the region than anyone else. Chinese make up the bulk of the people who are tricked into working in the compounds, while affluent Americans have emerged as the prize target for the scammers.

It may be unrealistic to expect the U.S. and China to set aside their competing interests in Cambodia, given notably the alleged existence of a Chinese naval base at Ream. But until the two major powers are able to isolate the issue of Chinese organized crime in Cambodia from their wider strategic competition, Chinese, Americans, Cambodians, and many others will continue to suffer the consequences.

Cambodias Extractive highlights history Institutions Nobel PrizeWinning Research
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025

How China’s Companies Are Responding to the US Trade War

April 16, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Tesla’s California market share tumbles despite aggressive price cuts

April 23, 2023

Catholic Org To Hold Prayer Procession Outside Dodger Stadium To Protest Pride Night

June 12, 2023

In New Survey, 84% Of Women Unaware That Menopause Affects Oral Health

September 28, 2023

‘Celebrity Big Brother’ Star Todrick Hall Fighting Lawsuit Accusing Him of Refusing to Pay $126k Furniture Bill

June 28, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

FCC Launches Probe Into DEI Policies At One Of Corporate Media’s Largest Strongholds

February 12, 2025

‘Sorry Fat Piece of Sh*t’

January 12, 2024

Trump garners tens of millions of views with Tucker Carlson interview to compete against Fox News GOP debate

August 24, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.