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[citation needed] From 1991–1993, the United Nations Transitional Authority in Cambodia stationed 22,000 personnel throughout Cambodia, whose spending represented a large part of the Cambodian economy. [citation needed] While the riel remains in common use in the provinces, the major cities and tourist areas heavily use the U.S. dollar. The ...
Cambodia had a gross domestic product (GDP) of $28.54 billion in 2022. [18] Per capita income, although rapidly increasing, is low compared with most neighboring countries. Cambodia's two largest industries are textiles and tourism, while agricultural activities remain the main source of income for many Cambodians living in rural areas. [19]
In Cambodia, US notes circulate freely and are preferred over the Cambodian riel for large purchases, [27] [28] with the riel used for change to break 1 USD. After the U.S. invasion of Afghanistan, US dollars were accepted as if legal tender, but in 2021 the Taliban government banned the use of foreign currencies. [29]
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The Cambodian economic system was unique in at least two respects. First, the government abolished private ownership of land. The Khmer Rouge believed that, under the new government, Cambodia should be a classless society of "perfect harmony" and that private ownership was "the source of egoist feelings and consequently social injustices."
The Cambodian Civil War fragilized the Cambodian banking system and on 28 October 1971, the National Bank ordered the commercial banks to suspend all foreign exchange operations in a vain attempt to establish a "flexible" rate for the riel, whose value collapsed as the United States dollar became the de facto currency. [9]
Cambodia has denied reports of a secret deal with China to station its forces at the base. The upgrade came after Cambodia demolished a U.S.-built facility at the base in Sihanoukville in 2020 ...
Cambodia is a constitutional monarchy and multi-party state, [17] although the CPP dominates the political system. [18] Cambodia is a member of the United Nations, ASEAN, the RCEP, the East Asia Summit, the WTO, the Non-Aligned Movement, and La Francophonie, and is a dialogue partner of the Shanghai Cooperation Organisation.