Australia asked China to Clarify whether the Instruction to Chinese Companies Not to buy Australian Coal is a Political Countermeasure
The Australian government on Tuesday (13 October) asked China to clarify whether it had instructed Chinese companies to stop buying Australian coal as a political countermeasure, jeopardizing a business involving about $10 billion (HK$78 billion) a year.
Australian Trade Minister, Simon Birmingham, said he had inquired China through diplomatic channels that whether it had instructed Chinese companies to stop buying Australian coal. “I am not hoping us to get lost in the speculation, but we are working with industries to take action and to have discussions with China," Birmingham said.
Many trade publications, including S&P Global Platts, reported that China's state-run energy suppliers and steel mills had received "verbal notice" from the government to stop buying Australian coal. Tensions between China and Australia have continued in recent months as a result of trade disputes and spy scandals. The economy in Australia has fallen into recession for the first time in nearly 30 years, and the ban from China on Australian coal will have a serious impact on its energy-dependent economy. Besides, the conservative government in Australia is also affected as it has vigorously promoted the coal industry to secure political support in key regions of the country.
The discord between China and Austalia has been escalating. Beijing threatened the exports on Australian wine and beef while Australia called for an investigation into the origins of the COVID-19 outbreak. Beijing also warned its citizens not to visit Australia or study aboard, alleging the anti-Asian racial discrimination in Australia during the pandemic.
Source: Apple Daily #Oct13
https://hk.appledaily.com/international/20201013/YICBNZ2LRFHGZEE2OWD4TYYRFM/
#ChinaAustraliaRelation #China #Australia #ChineseInfluenceInAustralia #AustralianEconomy #AustralianCoal #SimonBirmingham #AustralianTradeWithChina #ChineseStateRunCompanies
The Australian government on Tuesday (13 October) asked China to clarify whether it had instructed Chinese companies to stop buying Australian coal as a political countermeasure, jeopardizing a business involving about $10 billion (HK$78 billion) a year.
Australian Trade Minister, Simon Birmingham, said he had inquired China through diplomatic channels that whether it had instructed Chinese companies to stop buying Australian coal. “I am not hoping us to get lost in the speculation, but we are working with industries to take action and to have discussions with China," Birmingham said.
Many trade publications, including S&P Global Platts, reported that China's state-run energy suppliers and steel mills had received "verbal notice" from the government to stop buying Australian coal. Tensions between China and Australia have continued in recent months as a result of trade disputes and spy scandals. The economy in Australia has fallen into recession for the first time in nearly 30 years, and the ban from China on Australian coal will have a serious impact on its energy-dependent economy. Besides, the conservative government in Australia is also affected as it has vigorously promoted the coal industry to secure political support in key regions of the country.
The discord between China and Austalia has been escalating. Beijing threatened the exports on Australian wine and beef while Australia called for an investigation into the origins of the COVID-19 outbreak. Beijing also warned its citizens not to visit Australia or study aboard, alleging the anti-Asian racial discrimination in Australia during the pandemic.
Source: Apple Daily #Oct13
https://hk.appledaily.com/international/20201013/YICBNZ2LRFHGZEE2OWD4TYYRFM/
#ChinaAustraliaRelation #China #Australia #ChineseInfluenceInAustralia #AustralianEconomy #AustralianCoal #SimonBirmingham #AustralianTradeWithChina #ChineseStateRunCompanies
Australia's Trade Minister: China's trade 'autocracy' hurts Australia, hinders global economic recovery
Although Australia has just signed the Regional Comprehensive Economic Partnership Agreement (RCEP) with China that seeks to achieve zero tariffs on each other, China has imposed tariffs of up to 212% on Australian wine imports yesterday (28 November). In the face of China's continued trade pressure, Australia's Trade Minister Simon Birmingham criticized China's "dictatorship" in trade, which not only affects Australian businesses, but also hinders the recovery of the global economy from the epidemic. Birmingham said he is prepared to escalate the dispute to the World Trade Organization (WTO) for settlement.
In a television appearance on Sunday (29 November), Birmingham stressed that even though Australia welcomes China's growing economy, he criticized China for becoming overconfident, “what we want to see is that confidence turning for the better, and working with other countries to be able to work together to drive the global economy, rather than being an isolated economic pressure cooker. These actions not only hurt Australian businesses ... but also undermine confidence in the global economy. It also damages the confidence in the global economy, which is not detrimental to the world's recovery from the pandemic.”
Source: Apple Daily #Nov29
https://hk.appledaily.com/international/20201129/ZTOLDJ6PZJHA3M6ZG7WNUSJTOU/
#China #Austalia #ChinaAustralianRelations #AustralianEconomy #AustralianWineIndustry #tariff #RCEP #SimonBirmingham
Although Australia has just signed the Regional Comprehensive Economic Partnership Agreement (RCEP) with China that seeks to achieve zero tariffs on each other, China has imposed tariffs of up to 212% on Australian wine imports yesterday (28 November). In the face of China's continued trade pressure, Australia's Trade Minister Simon Birmingham criticized China's "dictatorship" in trade, which not only affects Australian businesses, but also hinders the recovery of the global economy from the epidemic. Birmingham said he is prepared to escalate the dispute to the World Trade Organization (WTO) for settlement.
In a television appearance on Sunday (29 November), Birmingham stressed that even though Australia welcomes China's growing economy, he criticized China for becoming overconfident, “what we want to see is that confidence turning for the better, and working with other countries to be able to work together to drive the global economy, rather than being an isolated economic pressure cooker. These actions not only hurt Australian businesses ... but also undermine confidence in the global economy. It also damages the confidence in the global economy, which is not detrimental to the world's recovery from the pandemic.”
Source: Apple Daily #Nov29
https://hk.appledaily.com/international/20201129/ZTOLDJ6PZJHA3M6ZG7WNUSJTOU/
#China #Austalia #ChinaAustralianRelations #AustralianEconomy #AustralianWineIndustry #tariff #RCEP #SimonBirmingham