Treasonous Labor cheers on CCP attack as Aussie coal piles up

Via The Australian:

The Australian coal flotilla stuck off the Chinese coast has swollen to more than 80 ships carrying blacklisted cargo worth more than $1.1bn, prompting the ­Morrison government to raise concerns about “discriminatory action”.

The Australian can also reveal coal exports to China have plunged by 96 per cent in the first three weeks of November, as a go-slow by Chinese officials crunches the nation’s second biggest export industry.

…Consultancy Wood Mackenzie said: “If the limit on Australian imports persists, we may see greater disruption to normal buying patterns. Australian coals will be forced into markets in Europe and South America, resulting in lower prices in those markets.”

…Opposition trade spokeswoman Madeleine King said “billions of dollars in trade and thousands of Australian jobs” were at risk from China’s trade retaliation.

“The government has no idea what to do next,” Ms King said. “It’s hard-working Australians who are paying the price.”

No, they’re not. They are defending their democracy against attack from a dictatorial foreign power that has captured a grovelling Labor. Get on with sending those ships elsewhere.

If we need to have a debate about whether workers are supported during the fight then let’s do so. But let’s do it without treasonous bile from Madeleine King and rest of Labor’s CCP patsies. To put it bluntly, King doesn’t know if she’s Arthur or Martha. Attacking the Government one minute in the AFR:

Now the Prime Minister speaks of strengthening our “economic sovereignty” as he pushes for a boost in domestic production of some manufactured goods including medical equipment and pharmaceuticals.

…A shortage of respirators, ventilators and other equipment in Australia or elsewhere does not signal a failure of globalisation. It’s a failure by governments to plan adequately for a pandemic emergency.

…Open trade will be an integral component of our economic recovery.

…Our greatest strength remains the extraordinary resources sector, which continues to meet production targets in the face of the COVID-19 disruption and is on track to export commodities this year worth an astonishing $300 billion.

So it is important to remember that the resources sector and a boosted advanced manufacturing sector will depend on an open global trading system.

Then backflipping at The Australian the next:

…Chinese demand for our commodities is forecast to plateau in coming decades and for some China-exposed sectors, including our meat exporters, winemakers and barley growers, it has become painfully apparent China is willing to limit imports from us for reasons that can be unclear.

We are overly reliant on four exports: resources, agriculture, tourism and education.

A recent Harvard Growth Lab Atlas of Economic Complexity ranked Australia 93rd in the world for the “complexity” of its exports, lagging Kazakhstan, Uganda and Senegal. It should not be like this — Australia should be in the midst of a job-making national effort to increase export complexity.

…It’s also time we finally got serious about building stronger economic relationships with India and the nations of Southeast Asia, particularly Indonesia and Vietnam.

And now cheering on an economic war declared in Beijing against Australia.

The conflict is hammering interests at both ends, via Reuters:

The Chinese restrictions have hit the price of Australian coking coal, with contracts on the Singapore Exchange ending at $101.57 a tonne on Wednesday, the weakest since July 2016 and down some 27% from the recent peak on Oct. 5, and some 37.3% below the high so far this year, reached in early March.

While Australian coking coal prices have been plunging, the opposite is true for their Chinese equivalent, the Dalian Commodity Exchange contract, which ended at 1,391.5 yuan ($211.80) a tonne on Wednesday.

The contract is up 13.5% from late September, and is also some 38.5% above the low for the year so far, reached at the end of April while much of China’s economy was still locked down as part of efforts to combat the coronavirus pandemic.

It’s a battle of wills that Australia must win or there will never again be an issue that this nation can support independently of Chinese threats. Which appears to Labor’s plan for the country.

The Australian Labor Party has betrayed Australia and I, for one, am shot of it.

David Llewellyn-Smith
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Comments

  1. This is probably a dumb question but the last time i noticed the number of coal ships said to be waiting of China the figure was 50 but the Australian refers to 80 if commodities are so fungible why isnt our coal heading of to other markets?

  2. More dumb questions David: i guess its it not easy or quick to move very large quanties of bulk materials around the world and is it possible that the chinese will create supply and demand shocks with their behaviour?
    and |
    Where are the markets our coal miners can back fill and apart from the Canadians supplying a lot of expensive coal to China who were the other beneficiaries of the ban?

  3. Isn’t it about time we stopped ignoring the not so subtle attempts by China to subvert our sovereignty by using lame-ass excuses to leave our exports to their country in limbo, intentionally placing our economic well-being under threat and in doing so trying to compel Australia to bend to their will.

    Why don’t we just do unto them exactly as they are doing to us?

    It’s been suggested before in MB and maybe it’s time our leaders gave it serious consideration, just grew a pair and slapped an export tax on coal and iron ore to China and gave them a taste of their own medicine.

  4. Labor is so bad on China. Need to document individual pollies and powerbrokers conflicts/largesse received/relationships/inconsistencies….

  5. Wow, should I get my guns from the bunker?

    Sorry, but the statements from Labor’s M King are not treasonous, bile, unexpected from an opposition, contradictory, or supporting an “attack from a dictatorial foreign power”. Please calm down for at least one sentence.
    Yes China are “a dictatorial foreign power” using trade to pressure Australia.

    Let me restate M King’s claims that you have quoted: We have a strong resources sector, we support it, we need diversification in markets and products, with or without a completely local supply chain our govt should be prepared for a pandemic. A decrease in coal purchases from China (and the world) is coming. Building our manufacturing sector will depend on Open Trade.
    These are NOT contradictory statements, changes in policy (that I can tell) or a sign that Labor are CCCP patsies.

    “The government has no idea what to do next”. This appears to be the trigger for you.
    An opposition pointing out a position that is neither pro-China or anti-Australian yet you call it Treason.

    Please – I dont come here for superficial comments, politically coloured blasts or black / white mutually exclusive representations of complex issues. We have 2GB and SkyNews for that.
    You can provide market price anomalies, movements and economic analysis I wont get from Click-bait shock-jocks.

    If you can find an Australian politician that thinks we should acquiesce to Chinese foreign policy for access to markets then feel free to point them out.
    Have our politicians congratulated China for takeover of Hong Kong’s laws and parliament ?
    Have our politicians spoken out against our Navy participation in free navigation exercises?

    Can our Opposition ask the Government for leadership and a plan in dealing with Chinese foreign policy and trade dispute? Yes. Should we call them treasonous for that? No.

    PS I was a member, I work in Oil and Gas, I may again re-join, but I am looking for more facts less political attacks.

    • It would be interesting though to hear from the alternative govt, on ‘how’ they would be handling the issues with realistic constructive ways and means. They may just have to deal with it in 12 to 18 mths if they can pull off a miracle change of govt.
      Of the 14 points of difference between China and Aust, which would Labor act on, and how. What would the trade for trade ? They cant say it because they need to stay small target. But if they want to play in the big sandpit they’ve got to get their head out sometime.
      Yes the rhetoric may be a bit overblown in the stories at times, but isn’t every headline these days.

    • Totes BeWokeMEMBER

      Labor are CCP patsies and should be called out for it. Smart Australians have worked out exactly what Labor are long ago.

      You were a member? Sure you were. Why choose a different name now?

      “Agreed, I’d like to hear details”

      You’ve heard the details. They’d roll over and give China our unborn. Labor are unelectable and it’s hurting our country.