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