Cambodia and Australia are very different economies - Australia is a developed, capitalist nation, whereas Cambodia is a developing, communist nation. Despite this, there are still some similarities.
Economic Growth
Australia and Cambodia are very different in terms of economic growth - Both countries have mixed economies, although Cambodia has a high level of centralized economic planning and government regulation (Export Britain, 2016).
Australia has very high levels of foreign investment – 56 per cent of all commercial property purchases were made by foreign investors in the third quarter of 2015, and this proportion is increasing sharply - this is an 8.5 per cent rise from the same period in 2014 (Your Investment Property Mag, 2015). …show more content…
Cambodia, however, has a much lower quality of life than Australia, reflected in their HDI rank of 143 (United Nations, 2015). Although Cambodia ranks poorly in the HDI, the quality of life of Cambodian citizens has improved considerably. Cambodia was one of the few countries able to meet their Millennium Development Goals, including halving their poverty rate (Asia Foundation, 2016).
Life expectancy in Australia is 82 years, considerably higher than Cambodia’s, which is 64 years (CIA World Factbook). Australia experiences gender inequality, which is reflected in the differences in average gross national income between men and women. Men’s income is significantly higher than women’s, with women earning close to 40 per cent less. The gender pay gap in Cambodia is much higher – with women earning roughly 27 cents (US) to a man’s dollar (The Guardian, 2014).
Female representation in parliament in Australia is high compared to Cambodia - although women represent less than a third of Australian parliament, this is still 10 per cent more than in Cambodian National Assembly (Heinrich Boll Foundation, 2013) (Parliament of Australia, 2014). The Cambodian government is also very corrupt – Transparency International ranked it the worst country in Southeast Asia, at 160 out of 177 countries (The Diplomat,
Economic Growth
Australia and Cambodia are very different in terms of economic growth - Both countries have mixed economies, although Cambodia has a high level of centralized economic planning and government regulation (Export Britain, 2016).
Australia has very high levels of foreign investment – 56 per cent of all commercial property purchases were made by foreign investors in the third quarter of 2015, and this proportion is increasing sharply - this is an 8.5 per cent rise from the same period in 2014 (Your Investment Property Mag, 2015). …show more content…
Cambodia, however, has a much lower quality of life than Australia, reflected in their HDI rank of 143 (United Nations, 2015). Although Cambodia ranks poorly in the HDI, the quality of life of Cambodian citizens has improved considerably. Cambodia was one of the few countries able to meet their Millennium Development Goals, including halving their poverty rate (Asia Foundation, 2016).
Life expectancy in Australia is 82 years, considerably higher than Cambodia’s, which is 64 years (CIA World Factbook). Australia experiences gender inequality, which is reflected in the differences in average gross national income between men and women. Men’s income is significantly higher than women’s, with women earning close to 40 per cent less. The gender pay gap in Cambodia is much higher – with women earning roughly 27 cents (US) to a man’s dollar (The Guardian, 2014).
Female representation in parliament in Australia is high compared to Cambodia - although women represent less than a third of Australian parliament, this is still 10 per cent more than in Cambodian National Assembly (Heinrich Boll Foundation, 2013) (Parliament of Australia, 2014). The Cambodian government is also very corrupt – Transparency International ranked it the worst country in Southeast Asia, at 160 out of 177 countries (The Diplomat,