Around the world: Kina overvalued/military build-up/Toyota rebounds


World 01The most overvalued currency in the world

The revelation last week—via an HSBC report—that the Australian dollar is the most overvalued in the world makes you wonder about the PNG kina.

Based on the past decade, it is currently trading at about its average level with the Australian dollar so theoretically would also be a contender for this title—if, of course, its economy were large enough to be included in the survey.

PNG military build-up?

Donald Gumbis, a lecturer in political science at the University of Goroka and an intern at the Lowy Institute, ponders PNG’s proposed military build-up on The Lowy Institute’s Interpreter blog.

Toyota reclaims crown

In the year its PNG subsidiary Ela Motors celebrates its 50th anniversary, Toyota has reclaimed the crown of world’s biggest carmaker. The Economist reports it sold 9.7m vehicles last year … most of which appear to be driving around the roads of Port Moresby.

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