PORT MORESBY, Papua New Guinea (AP) — After three decades of promoting free trade as a panacea to poverty, the APEC grouping of nations that includes the U.S. and China is holding its lavish annual leaders meeting in the country that can least afford it.
Barely penetrated by roads and scarred by violence, Papua New Guinea hopes the parade of world leaders will lift the mountainous Pacific nation of hundreds of tribal groups out of obscurity and attract investment.
But the expense has brought criticism when the government has a budget crisis and basic medicines are scarce. In 2015, the International Monetary Fund estimated hosting the event could cost $1 billion.
Australia, China and other countries have absorbed some of the cost but critics have already been given plenty of vindication.
