
Australia and New Zealand Must Rethink Their Approach to Pacific Trade
The countries of Oceania have wildly different economies – Papua New Guinea (PNG) exported close to $4 billion in oil and gas in 2016, while in Tonga, the biggest commodity export was $11.6 million worth of agricultural products. But what they have in common is a history of communal landownership, an emphasis on social capital (as opposed to financial capital), and cash-strapped governments.
In many cases, the first two combine to supplement the shortfalls of the last. There may not be government-funded welfare, but someone in the extended family likely has access to land where they can grow food, or will share their fish catch, or will do a church fundraiser to help with school fees.… Seguir leyendo »