Johnnie T Esanko
Approximately 90% of businesses are foreign - owned so the profits are remitted offshore. Also a sizable portion of the workforce is made up foreigners who paid higher than locals, and they remit their income to their home countries. This is the one of the reasons the Kina is weak against the US Dollar and now we're experiencing rise in the price of goods and services ( Inflation).
Respond:
Modern nation-states were established by colonial masters to keep us stay as slaves, not to become masters like them. We think we have independent country, therefore we have the right to be like foreigners. That is wrong! That was not the intention of setting up modern nation-states.
The banking system is the one that established modern nation-states, in order to keep colonial territories stay as colonized countries.
Unfortunately, PNG is the purest capitalist country, a country totally and fully controlled by markets, governments are just put there to guard the market, not to organise or rule the market. Her colonial masters of England, Australia and USA are not fully and totally controled by markets. Governments still control the markets. PNG? Not at all. No wonder our Kina fluctuates, copra prices fluctuates, coffee price go down and up the valleys, gold price and all prices in PNG are detrmined by markets. So what is the government for???????
Do we have brains to think about these all and do we have dignity to fix this?
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