| Publication date 24 January 2021 | 20:33 ICT
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Foreign minister Prak Sokhonn has embarked on his reform mission in five major aspects, with economic diplomacy being a part of it. AFP
Putting Cambodia’s economic diplomacy in context
Sun, 24 January 2021
It was a historical moment for Cambodia’s diplomacy when the Ministry of Foreign Affairs and International Cooperation launched the nascent “Economic Diplomacy Strategy (2021-2023)” on January 18, 2021.
In the wider definition of economic diplomacy, such strategy is not new. For instance, Cambodia’s efforts to integrate its economy with the region and the world through its accession in ASEAN and the World Trade Organisation in 1999 and 2004 respectively can be considered as the early phase of economic diplomacy.
In a stag hunt game, multiple hunters must cooperate each other to successfully encircle and hunt a stag. In the event that a hunter fails to cooperate and instead hunts a rabbit, it will no longer be possible for the remaining hunters to catch the stag. In such a case, the hunters will be better off abandoning any idea of cooperation and individually hunting rabbits for themselves. As long as the total meat obtained from the single stag is greater than the total meat obtained from all the rabbits, the hunters lose from failing to cooperate among themselves.
In many ways, global problems such as the Covid-19 pandemic or the climate change crisis, which demand greater international cooperation in order to be tackled successfully, may also be viewed as stag hunt games. Unless all countries of the world cooperate among themselves to deal with the stags of Covid-19 and climate change, we will ultimately be left with only rabbits , if anything at all.
Rich countries have over-reported finance to help countries adapt to the impacts of climate change by $20 billion over the last decade, leaving at-risk communities drastically underfunded, a new analysis showed on Thursday.
Rich countries have over-reported finance to help countries adapt to the impacts of climate change by $20 billion over the last decade, leaving at-risk communities drastically underfunded, a new analysis showed Thursday
Rich countries have over-reported finance to help countries adapt to the impacts of climate change by $20 billion over the last decade, leaving at-risk communities drastically underfunded, a new analysis showed Thursday. Applying that figure to remaining projects, CARE said that adaptation finance had been over-reported by $20 billion during the same period.