TAG: Papua New Guinea
Papua New Guinea’s chairmanship of APEC in 2018 comes at a time when the nation is still grappling with a foreign exchange shortage and high public debt, as well as persistent problems with law and order. Despite these issues, C-suite executives appear optimistic for 2018, as shown by the more than 100 participants in Oxford Business Group’s second Business Barometer: PNG CEO Survey. The vast majority (77%) think that the APEC 2018 summit will have a positive or very positive effect on the economy.
As the rhetoric from the US White House swerves from combative to compromise and back again, uncertainty in the global trading environment is creating potential pitfalls for emerging markets the world over. In the Association of South-East Asian Nations (ASEAN), which counts China as its largest trading partner, member states watch with trepidation as President Donald Trump ramps up threats of levies on nearly all Chinese products shipped to the US.
The eyes of the world are turning towards Papua New Guinea as it prepares to host the APEC Economic Leaders’ Week, the biggest ever international event on its soil.