Australia To Step Up Challenge To China In Pacific With New Investment | 11/18/2018 | Staff
ziggy1023 (Posted by) Level 3
SYDNEY (Reuters) – Australia will soon offer millions of dollars in funding for infrastructure projects in the Pacific, two sources familiar with the plan told Reuters, as part of its efforts to undercut Chinese influence.

Australia has long enjoyed nearly unchecked prominence in the Pacific but its position has been challenged by China in recent years as it increases its aid to the sparsely populated region that controls vast swathes of resource-rich ocean.

China - Sphere - Influence - Pacific - Aid

China denies it is seeking a sphere of influence in Pacific, insisting it gives aid to help with economic development.

Prime Minister Scott Morrison said last year Australia would create a fund to offer Pacific countries up to A$3 billion ($2.07 billion) in cheap loans and grants to cement its position in what he declared was “our patch”.

Fund - July - Australia

The fund will be operational by July 31, and Australia plans to...
(Excerpt) Read more at:
Wake Up To Breaking News!
It just doesn't get bettere than this...
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!