By PMIZ Watcher

The loan agreement signed between the Papua New Guinea government and China's Eximbank, to fund development of the Pacific Marine Industrial Zone is a terrible deal for PNG.

Putting aside the fact that PMIZ promises to be a disaster for Madang, repeating and expanding all the terrible social and environmental impacts of the existing RD Tuna fishing project, the US$70 million loan agreement signed with China means PNG will be paying for China's continued economic expansion and business profits.