Arthur Culvahouse Jr. told reporters in Canberra that it was up to U.S. allies and Western liberal democracies to educate people about the dangers of such loans. CANBERRA, Australia - The new U.S. ambassador to Australia said Wednesday that he’s concerned about the way China lends money to developing Pacific nations in what he describes as “payday loan diplomacy.”He said “the money looks attractive and easy upfront, but you better read the fine print.”“I would use stronger language. I would use payday loan diplomacy,” Culvahouse said. It is especially sensitive to “debt trap” claims where they concern projects included under its gargantuan “belt and road” infrastructure initiative. Culvahouse dampened expectations that President Donald Trump might visit Australia any time soon, saying he’d talked to the White House before he’d left and while a presidential visit remained a possibility, Trump had “a busy schedule.”“I do expect a number of very senior administration officials with whom I met to visit Australia this year,” he added.

Source: thestar March 13, 2019 03:59 UTC