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30 August 2017

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Two main issues with the article from Bloomberg.

First, it fails to separate total Australian investment in these two countries from just direct investment. In 2016, total Australian investment in China was $A87.9 billion compared with $A18.0 billion in PNG.

Bloomberg is correct on the sub-category of just direct investment abroad.

However, the key issue is the current flow of investments (especially when the comparison is to annual trade flows).

This is the worrying element - Australian total investment into China in 2016 was $A15.7 billion while there was a minus $0.1 billion investment in PNG - following a withdrawal of $0.4 billion in 2015.

Australian companies and individuals are getting their money out of PNG. (Source ABS publication 53520 Tables 4 and 5).

Hope the PNG Business Advantage conference in Sydney next week really addresses people voting with their feet (or dollars, or kina, or...). Cheers.

Bit of a contradiction in terms Ed?

Try "mainly centre on energy and minerals".

Poor old Yanks still haven't learnt how to speak English.

I'd like someone to explain what 'centre mainly around' means. 'Revolve around', I understand. 'Centre on', I understand. But 'centre around'?

"...obscure South Pacific nation"? "... highland region is so remote that some villagers didn’t come into contact with Europeans until the 1930s"?

What an ignorant and patronising article. Mind you many Americans can't even identify North Korea on a map, let alone PNG.

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