MARAPE GOVERNMENT NEEDS TO RESERVE THE DECISION TO ALLOW CHINA BANK IN PNG!

By Richard Marainump

There is too many risks in this decision of allowing China to operate bank in PNG.

1》In the long run the Chinese bank will try all possible means to buy off local banks after it has rooted itself and try to finance and facilitate all Chinese businesses in PNG to be competitive with local businesses of which some are already in existence or doing and this will only add fuel to the fire.
2》There is possibility of China bank taking over PNG banking industry because the government has already created unfavorable environment for the operating local banks and if the China bank gives a good competition, there is possibility of these banks dying out like Wespac and ANZ in PNG. And where do we go if that happens?
3》The Chinese people if you look at them closely, they are very tough and determined when it comes to business. With such a mindsets and attitudes, they will do everything within the armpits of their financial capability to overrun and overtake PNG. Why am I saying this, they have already studied us and seen us to be gullible and easy to be bribed. So opened and desperate to receive free money (bribery money).
They have seen us as very lazy people and not so patriotic as them or other nations in the world.
We have no care attitudes. We do not resist and protest critical decisions against the citizens made by the government. We are so naive and indifferent in many critical issues in the country though we preach and post/comment aggressively on the social media.
The China man sees us as sick dogs and unwilling people who only complain alot but do not take affirmative actions and stance or make tough decisions.
4》The government needs to reserve this decision and promote the local banks and also establish the PNG National Bank that it has announced recently and see how things prevail in the next five to ten years.
5》Government must not allow a competitive and self centered nation like China to tap into critical business industry that easily and operate in PNG.
And this isn't TAKE BACK PNG at all.