Asia’s ‘payday loans’ assaulted by Arthur B Culvahouse Jr, new United States diplomat to Australia

Arthur B Culvahouse Jr stated the amount of money wanted to Pacific countries appears appealing and simple at the start.

ABC Information: Matt Roberts

The brand new usa ambassador to Australia has ratcheted up their attacks on Asia, accusing Beijing of "payday loan" diplomacy into the Pacific.

Tips:

  • The ambassador warned Pacific countries to "read the print that is fine
  • Their remarks echo US Vice-President Mike Pence's "debt trap" statements
  • ANU analyst claims Mr Culvahouse's warning is "over the most notable"

Arthur B Culvahouse Jr made the remark lower than a full hour after being ceremonially welcomed to Canberra because of the Governor-General.

US Vice-President Mike Pence has over and over accused Asia of "debt trap" diplomacy, saying Beijing intentionally loads tiny nations with unaffordable debts that it could make use of as leverage.

"I would personally make use of stronger language — I would personally make use of loan that is payday," Mr Culvahouse stated.

"we think it is on us, all the allies together with western or liberal democracies, to coach individuals in regards to the perils among these loans.

"the funds appears appealing and simple at the start, you better see the terms and conditions."

Just last year, Tonga called on Pacific countries to band together and press Asia to create down debts, saying it could find it difficult to repay two loans well worth $160 million from Asia's Export Import Bank. (more…)

Sarnali Bhowmick
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