Shanghai Scott mowed down on White House lawn

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The raw calculus of power was on display for the Australian Prime Minister on the weekend as all of the hopes and dreams of Australia’s China lackeys were mowed down on the White House lawn, via the AFR:

Scott Morrison has dug in behind Donald Trump’s push to win significant concessions from China on trade – especially the cessation of intellectual property theft – and is prepared to adjust the budget to help the economy ride out what looms as a protracted dispute.

After Mr Trump warned on the weekend that it may be more than a year before a resolution to the trade war was reached, Mr Morrison said it was worth holding out for a proper deal rather than a compromise which did not address the key concerns about China’s trade practices.

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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.