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Pacific banking diplomacy game will evolve beyond Nauru

Lucas Baird
Lucas BairdReporter

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Nauru may swap Australian dollars for Chinese yuan if the Albanese government squanders its strategy of drafting in the big four banks to shore up regional security and counter Beijing’s growing influence in the island economy.

The government is already in talks with Commonwealth Bank to set up shop in Nauru, as revealed by The Australian Financial Review.

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    Original URL: https://www.afr.com/companies/financial-services/pacific-banking-diplomacy-game-will-evolve-beyond-nauru-20240805-p5jzho