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

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

CANBERRA, Australia (AP) — the latest U.S. ambassador to Australia stated Wednesday that he’s concerned with just how Asia lends cash to developing Pacific countries in exactly what he defines 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 in regards to the hazards of these loans.