The Dollarization of World Trade and Its Impact on Cambodian Economy
世界贸易的美元化和它对柬埔寨经济的影响
引言
IRP是一个重要的IS305全球治理课程重要部分。它的目的是说出每个学生关于一个全球管理的柬埔寨时事的特别话题的理解，和解决和评价课程的重要地位的目的，我付出了大量的时间在每个MC以及最终MC。
所有主题的建议中，我选择了第六个主题：“世界贸易的美元化及其对柬埔寨经济”这个特别的主题相是与经济相关的，它作为全球治理课程主题。显然，经济是一个有趣的和重要的主题，并开始在全球治理中越来越多的具有辨识度。全球治理在许多主题之间，具有复杂的相互作用，其中之一就是经济。
在此基础上，我选择了上面的题目作为我的IRP问题，这主要有两个原因。首先，本课题是对我个人的吸引力。我看过其他周边国家拥有更强大的经济势力，他们能够如此广泛地使用本国货币。相比之下，在柬埔寨US的货币是更愿意被整个国家所接受。这确实只是故事的一小部分，因为美元从世界二战结束后开始广泛传播。我想了解更多关于这一现象在柬埔寨这样的小经济体的原因和影响。我也渴望了解当地政府和其他IGOS间的竞争，来支配美元化的影响。最后但并非最不重要的，这个话题让我展示了美国的全球治理的互动作为一个在国际舞台上最强大的球员以及国际组织的作用，贸易全球化和全球治理模式，实际上在柬埔寨柬埔寨政府调节经济美元化的冲击响应。
我将我的IRP分为五个主要部分，每一个旨在解决“美元化现象的不同方面。
Introduction
IRP is an essential part of IS 305 Global Governance course. With its aim to address each student’s understanding a particular issue of global governance in relevant to Cambodian current affair and its important place in the course’s assessment, I have paid tremendous amount of time working on each MC as well as the final MC.
Among all the topics suggested, I have chosen the 6th topic:“The Dollarization of World Trade and Its Impact on Cambodian Economy” This particular topic is related to economic as a course theme of global governance. Apparently, economic is an interesting and vital theme which is getting more and more recognition in global governance. Global governance is a complex interplay among many themes whose one of which is economic.
On top of this, I have chosen the above topic as my IRP topic for two main reasons. First of all, this topic is personally appealing to me. I have seen other neighboring country with stronger economy using their national currency so widely. In contrast, in Cambodia US currency is more preferably accepted throughout the whole country. This is actually only a short part of the story since dollarization started to spread worldwide after WWII ended. I want to find out more about the causes and effects of this phenomenon on the small economy of Cambodia. I am also keen to find out about the struggle of local government and other IGOs to govern the very impact of dollarization. Last but not least, this topic allows me to demonstrate the intersection of global governance with the US as one of the most powerful players in international arena as well as the role of IGOs, pattern of trade globalization and global governance, and indeed the response of Cambodian government on regulating the impact of dollarization on Cambodian economy.
I have divided my IRP into five main parts in which each aims to address different aspect of “dollarization phenomenon”.
Part I: Causes and Growth of Dollarization of World Trade
International recognition of a foreign currency in world trade is not a brand new phenomenon. During the eighteenth and nineteenth centuries, the pound of Great Britain reigned as the first reserve currency in the world,but in the twentieth century, the U.S. dollar laid claim to this title. It has since been the dominant reserve currency since the end of World War II.
Definition of Dollarization
To fully understand the impact of dollarization on Cambodian economy, the initial step is to define what dollarization is. Most simply put, Dollarization means adopting the US dollar as the currency of choice in a foreign country [1] . However, dollarization’s definition does not end here. Dollarization is a generic term that can fall into three categories:
Official Dollarization: The dollar is the only legal tender. In other words, there is no other local currency. Examples are that in Panama, El Salvador and Ecuador. For example, since independence in 1903, Panama has only used the U.S. dollar.
Semi-Dollarization: A country will use both its own currency and the U.S. dollar interchangeably as legal tender. Lebanon and Cambodia are good examples of this.
Unofficial Dollarization: For many countries in the developing world, the dollar will be widely used and accepted in private transactions, but it is not class
