Abstract
Since independence, Pacific Island Countries (PICs) have remained heavily dependent on industrialized countries for their economic survival. PICs suffer from many disadvantages: a rising sea level, the tyranny of distance, a poor resource base, etc. Unequal political, economic and human resource capacities prevent PICs dealing on equal terms with their bilateral and multilateral counterparts. These have contributed to some PICs becoming ‘failed states’. Australia and New Zealand are addressing these issues in cooperation with PIC leadership. However, everything is not bleak in the long‐run. Technology has started opening up avenues to harvest chemical, food and mineral resources from the sea. A group approach is required to take advantage of benefits of emerging opportunities, lest others will outmaneuver them: there is no short cut.
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