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