ECONOMY:
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hoping for investment from overseas Cambodians more of whom
recently began visiting Cambodia.
Much of Cambodia’s recent economic revival is superficial and
cannot mask the country’s desperate state of poverty brought on by
two decades of war, Khmer Rouge tyranny, Vietnam’s invasion and
international economic isolation. Cambodia has yet to get back to
the levels of production it enjoyed in the 1960’s before it was
engulfed in war.
Co- P.M. Hunsen staged a coup on July 5, 1997, ousting his
rival, Prince Norodom Ranariddh. Polpot, the Khmer Rouge leader
who held power during the late 1970’s was denounced by his former
comrades at a show trial, July 25, and sentenced to spend the rest of
his life under house arrest; he died April 15, 1998. Hun Sen’s party
won parliamentary elections on July 26. Cambodia was formally
admitted to ASEAN on April 30, 1999.
Elections in July 2003 resulted in a stalemate—none of the
parties won the two-thirds majority required to govern alone. Almost
a year later, in June 2004, Ranariddh and Hun Sen agreed in June
2004 to form a coalition, with Hun Sen remaining prime minister. In
August, Cambodia's parliament ratified the country's entry into the
World Trade Organization.
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