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This working paper analyses intra-Mekong trade and investment. The author argues that new patterns of trade relationship are emerging which can be likened to hubs and spokes, in which the more advanced economies of Thailand and Vietnam can be seen as hubs and the less developed economies of Cambodia and Laos as spokes. These relationships illustrate an asymmetrical interdependence that consequently shapes the effects of trade and investment on people’s livelihoods, the environment, income distribution, labour rights, and land rights in Mekong.