China declares economic war on Australia

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For fifteen years it lay low. A peaceful rise it said. Benefits to all it said. Open and fair trade for all it said. One economy and two systems it said.

Either it was lies all along or something has gone horribly wrong because China’s mask of friendliness has now dropped off. In its place is a snarling and angry beast, openly happy to violate sovereignty, undermine democracy and use economic blackmail to achieve its ends.

This pressure is not new. We’ve seen it for several years as China became more assertive via political bribery channels and strategic land-grabs. But as that tactic was pushed back, China has not backed down, on the contrary. Flushed into the open, China appears now happy to pursue its interests openly, aggressively and punitively.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.