Nightly Business Report
Public Broadcasting System
SUSIE GHARIB: China is the world's second largest oil consumer and until the recession hit, its appetite for fuel was driving economies around the globe, including Cambodia. As Rian Maelzer reports, the global slowdown has raised doubts about Cambodia's plans to tap recent finds of oil and gas.
RIAN MAELZER, NIGHTLY BUSINESS REPORT CORRESPONDENT: strong demand from the U.S. and EU had been keeping Cambodia's sewing machines working at full tilt. But in the past year, garment exports to those markets have slumped, costing thousands of workers their jobs. Arjun Goswami of the Asian Development Bank says it's a huge blow for a country that still relies on foreign aid for close to half the government's budget.
ARJUN GOSWAMI, COUNTRY DIRECTOR, ASIAN DEVELOPMENT BANK: This is an open economy, it's a small economy and it's not very diversified, so there have been serious impacts.
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