Australia-US forum aims to solve Pacific banking crisis
Ronald MizenSenior reporter
Australia and the United States will this week try to solve the growing crisis of Western banks withdrawing from the Pacific, which is viewed as posing a national security risk if China tries to muscle in on the business.
Western banks are increasingly withdrawing from Pacific Island nations to “de-risk” their operations, a trend Prime Minister Anthony Albanese and US President Joe Biden last year agreed to address.
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Ronald Mizen reports on politics, economics, business and the law, with a focus on corporate regulators, lobbyists and investigations from Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
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