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Australia Why Australia must not bow to China but seek wider trade options

05:40  21 may  2020
05:40  21 may  2020 Source:   theage.com.au

Diplomatic row between Australia and China 'unfortunate'

  Diplomatic row between Australia and China 'unfortunate' Deputy Labor leader Richard Marles says the ongoing "diplomatic row" between the Communist Party of China and Australia has been unfortunate and reiterated the importance of our "very complicated relationship" with the regime.Mr Marles told Sky News "it is a really important matter for China and it's a very important matter for the world" in determining exactly how "the coronavirus ultimately originated".

CANBERRA, Australia — Australia ’s trade minister said Tuesday that his country does not want a trade war with China , but maintained Beijing had erred by The World Health Organization bowed to calls Monday from most of its member states to launch an independent probe into how it managed the

CANBERRA, Australia (AP) — Australia ’s trade minister said Tuesday that his country does not want a trade war with China , but maintained Beijing had Beijing has denied they are related. The World Health Organization bowed to calls Monday from most of its member states to launch an independent

Scott Morrison. © Getty Images Scott Morrison. Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not represent the views of MSN or Microsoft.

In 2018, Australian beef and wine exports were left at the docks, unable to enter China. In 2019, Australian coal exports were held up at Chinese ports. Recently, following Prime Minister Scott Morrison's call for an independent international inquiry into COVID-19 outbreak's origin, China suspended beef imports from four Australian abattoirs, and slapped a crippling 80 per cent tariff on Australian barley.

Australia is far from the only country to suffer Beijing's economic coercion tactics, and it is time to look for ways to work with other like-minded countries to put a stop to it.

Government's 'mismanagement' of China relationship to blame for trade woes, Labor says

  Government's 'mismanagement' of China relationship to blame for trade woes, Labor says Labor accuses Scott Morrison of using a face-off with China to chase votes at home, warning the consequences could be immensely damaging to exporters. Opposition agriculture spokesman Joel Fitzgibbon said the Prime Minister was making key industries nervous by allowing the relationship with Beijing to sour."We may be getting just an initial taste of the economic cost of mismanaging our relationship with our most important trading partner," Mr Fitzgibbon said."We must never forego our interest abroad in the interest of chasing votes here in Australia, and I think that is exactly what the Prime Minister has been doing.

Australia - China relations have a number of long-running irritants, but Canberra raised Beijing’s ire The Labor opposition stepped up its calls for the Australian government to seek clarity from the Laurenceson, of the Australia - China Relations Institute, said the reports of Beijing assembling a list

Australia 's Minister for Trade Simon Birmingham on Monday night denied Australia had subsidised ' Australia is deeply disappointed with China 's decision to impose duties on Australian barley,' Mr 'So it's up to the public, the people to decide. And also, maybe the ordinary people will think why they

Although Australian officials deny it, industrial representatives, journalists, and economists have interpreted the events as Beijing's attempts to punish Australia for its perceived political missteps. In some quarters of Australian business, the misconception exists that the punishment is deserved when Australia continues to upset China, but the reality we face is an emerging superpower growing more demanding by the day, and redefining what counts as upsetting.

Domestically, the Chinese Communist Party rules with an unyielding iron fist, throwing dissenters - journalists, activists, ethnic minorities - in jail on trumped-up charges. Now the regime is attempting to replicate the formula on the international stage, pushing back aggressively on claims it detests, and threatening those who make them.

Premier calls for speedy resolution to China beef export ban

  Premier calls for speedy resolution to China beef export ban Annastacia Palaszczuk warned any "trade war" could cripple Queensland's beef export economy and put thousands of jobs in jeopardy.On Tuesday federal Trade Minister Simon Birmingham said the department had been notified late on Monday that four abattoirs had been suspended by China over "issues related to labelling and health certificate requirements".

B. The first ties between Russia and Britain were formed in the middle of the 16th century in the time of Ivan the Terrible. It was then that some wealthy British merchants founded the Muscovy Company which held a monopoly on trade between Britain and Russia until 1698. The building of its Moscow

Australia has shipped around 2 million tonnes of barley in the current season to China , about half of its expected barley exports. China had already shifted towards Canadian, French and Ukrainian origins during an 18-month-long probe into Australian barley, and further widened its options by approving

Australia is far from the only country dealing with this problem. In 2019 alone, fights over Huawei and 5G saw Beijing ban or delay Canada's meat, soybean, and pea imports and threaten German auto companies and a potential free trade agreement with Denmark, and possible retaliatory sanctions against India. Any country could see its lucrative trade relationships with China put at risk.

Australia has rightly taken China to the World Trade Organisation over the barley dispute, but is that enough? Its leadership in calling for an inquiry into COVID-19's origins has been backed by a coalition of 116 countries. Now like-minded nations should form an alliance and demand from China more clarity, objectivity and fairness in its trade relationships. This would blunt the edge of Beijing's coercive diplomacy, and make clear that it too has much to lose if it continues to weaponise its trade relationships.

USA-China trade agreement not falling apart, says Kudlow

 USA-China trade agreement not falling apart, says Kudlow USA-TRADE-CHINA: USA-China trade agreement not falling apart, says Kudlow © Reuters / KEVIN LAMARQUE L US-CHINA TRADE AGREEMENT NOT CRAPPING, SAYS KUDLOW WASHINGTON (Reuters) - The January trade agreement between the United States and China is by no means crumbling and two countries continue to work on trade relations, said Larry Kudlow on Friday.

Why Use Options . How Options Work. Types of Options . Options trading may seem overwhelming at first, but it's easy to understand if you know a few key points. Options trading involves certain risks that the investor must be aware of before making a trade .

China ’s vital role in global supply chains was felt sharply amid the coronavirus pandemic as many international When the trade war showed no signs of abating last year and the US and China were still hitting What are rare earth metals & why they are China 's ‘nuclear option ’ in trade war with US.

Since China announced the barley tariffs, industry groups have called for an end to criticisms of Beijing's policies and a "reset" of the sino-Australian relationship. However, as Xi Jinping's China sinks deeper into the abyss of authoritarianism, a unilateral reset won't fix the underlying problem. If COVID-19 has taught us anything, it's that we need to diversify our interests and export targets, and look to our real friends.

Taiwan has set an excellent example of turning the economic coercion crisis into a diversification success. In 2016, Taiwan's tourism, one of its main industries, suffered deep losses following the inauguration of President Tsai Ing-wen, who advocates a strong Taiwan identity. Instead of making political concessions, the island took the opportunity to diversify and reform. Three years later - despite China's 2018 ban on mainlanders' individual tourist visas to Taiwan - the number of foreign visitors to Taiwan hit the record high of 11.84 million last year.

For Australia, the road of diversification will be bumpier for some industries than others. It can hardly find a market that replaces iron and coal exports at the drop of a hat. But the point is to begin thinking long-term, and recognise that sectors overly dependent on China are a strategic vulnerability.

As anyone who has dealt with bullies would know, their power over the bullied is almost always exaggerated.

Vicky Xiuzhong Xu is an analyst for the Australian Strategic Policy Institute's Cyber Policy Centre.

Vic 'given green light for China's Belt and Road deal by DFAT' .
Victoria was reportedly given the green light to go ahead with China's Belt and Road agreement by the current Australian Ambassador to China when he worked for the Department of Foreign Affairs and Trade. Graham Fletcher reportedly told the Victorian government in 2018 the deal would have merit while other DFAT senior officials told the premier and cabinet that signing on would not undermine the federal government's policy.The revelations contradict Prime Minister Scott Morrison's assertions on Sunday the federal government never supported the signing of the deal noting Victoria was the only state to sign on.

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