New United States ambassador warns of Asia’s ‘payday loan diplomacy’

CANBERRA, Australia (AP) — the U.S. that is new ambassador Australia stated Wednesday that he’s concerned with the way in which Asia lends cash to developing Pacific countries with what he describes as “payday loan diplomacy.”

Arthur Culvahouse Jr. told reporters in Canberra it was as much as U.S. allies and Western liberal democracies to teach individuals concerning the potential risks of these loans.

U.S. Vice President Mike Pence formerly warned of China“debt that is deploying” against developing Pacific countries.

“I would personally utilize more powerful language. I would personally utilize loan that is payday,” Culvahouse said. Leer más