Brothers! Today's gossip is even more thrilling than the BTC spike at dawn. Hong Manai probably hasn’t even warmed up the chair of the Cambodian Prime Minister, and here in China, we’ve directly 'paused new low-interest credit grants'. This countermeasure is faster than OKX’s liquidation speed, directly pouring a bucket of ice-cold cola over Phnom Penh—what a refreshing chill!
Let's not rush to take sides; first, let's dig into the ins and outs of this matter. To be honest, Cambodia's infrastructure over the past decade has been like a 'story of Chinese low-interest loans'—over two thousand kilometers of roads and more than a dozen substations. In the crypto world, it's like 'the project party using angel round funding to make infrastructure land', with interest rates consistently at 2.7%, which is more than half lower than the interest you pay when borrowing USDT from centralized exchanges. This is definitely a 'friendship price leverage'!
Some may ask, "Isn't it said that China and Cambodia are 'deep partners in the crypto space'? How can it just stop?" As an old leek who has been sitting on the sidelines for many years, I understand a principle: no matter how solid a partner is, one cannot engage in "disruptive operations." Think about it, if you borrowed low-interest USDT from your brother for a contract and then helped the opponent to dump the market, who would be comfortable with this?
The actions of the Hong Manai government are even more unreasonable than "the project party misappropriating funds for a rural dog." On one hand, they are using China's "low-interest ammunition" for infrastructure, while on the other hand, they let US warships gather next to the Chinese-built Yunrang Navy base. It's like you and your brother partner to open an exchange, and he suddenly privately issues the platform token to his air force brothers; the absurdity is off the charts!
Even more absurd is the Dechong Phnom Penh Canal project, which was originally a "joint mining-level cooperation" between China and Cambodia: China provided technology and funding, equivalent to "providing mining machines and computing power." Just when it was about to produce blocks, the Cambodian side suddenly jumped out and said they wanted to "emphasize project leadership," directly slashing Chinese shares to only 10%. I’m familiar with this kind of operation! Isn't it like when you partner with someone to create a DAO, you provide most of the startup funds, and then they directly modify the contract to kick you out, leaving you with just an "honorary advisor" title? It's worse than cutting leeks with a needle!
In fact, we have long been able to see the clues from the "market." China has already begun to "adjust positions and swap stocks." It is no longer simply "lending to the project party," but has shifted to "direct investment in the primary market." Just like crypto institutions moving from "lending business" to "incubating quality projects," Sihanoukville Economic Zone now has over 200 Chinese enterprises rooted, creating jobs for more than 30,000 people, which is equivalent to "establishing a Web3 industrial park," much more reliable than simply lending money to the project party.
More importantly, the settlement in RMB is gradually being established in Cambodian banks, and this operation can be described as "decentralized currency exchange," helping Cambodia reduce its dependence on the US dollar. After all, everyone knows that the US dollar is the Federal Reserve's "centralized stablecoin," which can be subjected to interest rate hikes and "quantitative tightening" at any time. This shift from "dependency on borrowing" to "ecological binding" is the real "long-term value investment," much more stable than trading short-term contracts.
Some people think that "one can eat Chinese food while handing chopsticks to America"; this idea is as naive as "trading coins on Binance and then shorting Binance's platform token". Our ancestors have long said, "The auxiliary wheel depends on the main wheel; when the lips are gone, the teeth are cold." In the crypto space, it means, "The project party is bound to the community; if the community cools down, the project cannot survive." Small countries playing with fire between big countries is like opening both long and short positions in a volatile market; with a slight mistake, you could be "liquidated to zero" and get burned!
Recently, there’s an interesting detail: In 2025, Cambodia will implement visa-free entry for Chinese tourists, and in the first 11 months, the bilateral trade volume reached 17.6 billion USD. What does this imply? It shows that the Cambodian side is very clear; if a conflict arises with China, the tourism and manufacturing sectors, which are the "core cash flow businesses," will immediately come to a halt. This is similar to losing core community support for a crypto project, leading to a drop below the issue price in no time.
So let's analyze objectively; this "suspension of new low-interest credit" is not a "collapse of cooperation," but a necessary "market calibration." Just like when you work on a project with a partner, if they go off track, you need to stop the loss and remind them in time; otherwise, both of you could be dragged down. China's operation clearly tells Phnom Penh: Friends can collaborate, but "trust chips" cannot be overdrawn; cooperation can be diverse, but "bottom line positions" cannot be moved.
Isn't this how our crypto space operates? No matter how solid the mining conspiracy is, one cannot let someone monopolize the mining machines; no matter how appealing the private placement quota is, one cannot touch the funding scheme. True partners do not always "pump and shout orders" with you, but dare to directly pull your keyboard away when you want to "dump and cut leeks." This "cold credit," in simple terms, is to avoid a larger "collapse of cooperation" in the future and serves as a reminder for all cross-border cooperation.
Finally, let me chat with the brothers: Do you think Hong Manai will quickly "adjust positions" to restore cooperation? Will this calibration of China-Cambodia cooperation inspire new insights for cross-border cooperation in the crypto space? Share your thoughts in the comments, and follow me! In the future, I will break down the hidden "crypto opportunities" in China-Cambodia cooperation, such as the cross-border payment logic behind RMB settlement; missing out could lead to significant losses!@帝王说币 #加密市场观察 $BTC
