The Forum > Article Comments > The federal government needs to assist our major banks re-engage with PNG > Comments
The federal government needs to assist our major banks re-engage with PNG : Comments
By Jeffrey Wall, published 6/1/2023Last week Prime Minister Marape issued a long statement urging the Bank of China to establish a substantial presence in PNG - including retail banking.
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That said, the PNG PM needs to decide where he stands, his long-term ally and benefactor, or a sabre-rattling China. Who will use him and PNG for long term outcomes and cheap resources that are finite.
As for the banks per se. They need to be encouraged to better serve rural and regional Australia before venturing into cargo cult dominions.
Indonesia should be concerned with recent developments and a China with influence at the back door.
Perhaps PNG should look to them for financial assistance or political graft. Given they stand between us and Chinese expansion in our area. And would be concerned if PNG became a base for Borneo rebels.
Possible currently given their present regional posture. But less likely if PNG is a financially indebted friend.
Alan B.