Geopolitical influence

WHEN economic powerhouses converged in Port Moresby for the Apec Leaders’ Summit last week, it was all about maintaining the status quo of geopolitical influence over the Asia-Pacific region, in particular by the Western economies of the United States,
Australia and Canada versus China.
It is an interesting analogy when you define Apec’s agenda of free and open trade and investment liberalisation in PNG’s LNG project operated by US energy giant ExxonMobil, amassing global financing of $19 billion to supply the big markets like China, Japan and Taiwan.
It’s a win-win situation in terms of trade and investment in such demand-driven clean energy option.
When the US under President Trump starts a trade war, it will hurt the small economies around the world as warned by Chinese President Xi Jinping during his visit.
Nevertheless, it’s a showdown that will propel PNG to the next level as an emerging middle-income industrialised country.

Galaxy Spencer
Observer
NCD via email