Via The Australian:
Scott Morrison has moved to reset Australia’s strained relationship with China, announcing a $44 million foundation to strengthen bilateral ties and appointing a top China specialist as Australia’s new ambassador in Beijing.
This comes amid growing tensions over the ban on Chinese companies participating in Australia’s 5G network and a backlash over new foreign interference laws.
The new National Foundation for Australia-China Relations will harness Australia’s Chinese community, as well as big business and cultural organisations, to “turbo charge” engagement with China as the nation’s biggest trading partner turns up the heat on Australian exporters.
…The foundation will replace the four-decade-old Australia-China Council, which focused on education, culture and the arts, with record funding and a widened remit to promote ties in agriculture, infrastructure, health, ageing, the environment and energy.
Turbo charge what exactly? Chinese purchases of Australian strategic assets is banned. Its tech SOE’s are blocked as well. China has closed its capital account and will have to tighten ever more as its growth slows cutting off property laundering hot money. Eventually that’s going to shift into the trade account too, with tourism and students capped. In the meantime, coal is being blocked as well. The spooks are in full control of Canberra again as the US alliance muscles up.
These forces are structural. Scummo might as well have bought a $44m wreath.
