PPRuNe Forums - View Single Post - APEC in PNG -- what do you think?
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Old 19th Nov 2018, 05:33
  #24 (permalink)  
poteroo
 
Join Date: Jun 2001
Location: Albany, West Australia
Age: 83
Posts: 506
Received 19 Likes on 6 Posts
It occurs to me that there is rank hypocrisy in the PNG governments 'borrowing' from the Chinese government. It seems only yesterday that PNG, and the Solomons, were the location of riots against local Chinese businesses. Please explain if there has been a change in feeling towards non-indigenes in PNG. But, by borrowing so much, (USD300m already?), PNG is probably heading for an Argentinian type currency crash in the future: the Kina will be as valuable as a Zimbabwean peso. And Australia is bidding things up so that we can join the queue of lenders.... (probably of last resort!). Canberra seems to think that throwing more 'aid' money at PNG will balance things when it's really a classic 'dutch' auction that PNG is running. Talk about cargo cult - this mob have given it new life!
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