The French Pacific territory of New Caledonia is on the brink of economic collapse, following deadly riots earlier this year that devastated businesses and worsened an already struggling economy. The primary industry in the archipelago, nickel mining, was facing difficulties even before the riots, leading many employers to lay off a large portion of their workforce.
The unrest in New Caledonia has had a severe impact on the local economy, with businesses in ruins and many residents facing unemployment. The situation has been made worse by the ongoing setbacks in the nickel industry, which has traditionally been the main source of revenue for the territory.
As the territory grapples with these economic challenges, it is clear that urgent action is needed to prevent a full-blown economic collapse. The government and local authorities must work together to find solutions that will support businesses, create jobs, and stabilize the economy.
These developments have raised concerns about the future of New Caledonia and its residents, who are facing an uncertain future as they navigate through these difficult times. It is crucial for both local and national authorities to prioritize the economic recovery of the territory and provide support to those affected by the recent unrest.
Watch the video by FRANCE 24 English
Video “Crisis-hit French territory of New Caledonia on brink of economic collapse • FRANCE 24 English” was uploaded on 10/05/2024 to Youtube Channel FRANCE 24 English