Via CNBC: China is heavily exposed to the U.S. dollar, but now, with the risk of “decoupling,” Beijing is silently diversifying its reserves to reduce its dependence on the world’s largest reserve currency, analysts say. Ongoing trade tensions with the U.S. has “increased the risk of a financial decoupling” between the two largest economies, ANZ
In mid-2018, the US declared the China American Cold War a go. It comprised a series of ratcheting trade tariffs by the Trump Administration directed at China. these were directed largely at shifting global manufacturing supply chains, especially in technology, away from China. The measures were directed specifically at China’s stated aim of dominating global technology, artificial intelligence and robotics by 2025.
Other dimensions of the growing Great Power conflict included freedom of navigation through the South China Sea where China had constructed series of far-flung militarised atolls that armed the distant approaches to its mainland and effectively claimed that ocean as sovereign Chinese.
The Cold War was also concentrated around Chinese ‘sharp power’ which had made significant inroads in influencing policy outcomes within the US alliance network in and around the Asia Pacific via bribes, debt diplomacy and corruption of media.
The China American Cold War showed all of the characteristics of an historic, ideological struggle between liberal democracy and statist growth that had defined the 20th century battle between the US and the Soviet Union.
First it was the US Congress, via Reuters: The U.S. Senate, in a unanimous vote, passed legislation on Tuesday aimed at protecting human rights in Hong Kong amid China’s crackdown on a pro-democracy protest movement that has gripped the vital financial center for months. Following the voice vote by senators, the “Hong Kong Human Rights
Given the old bullyboy’s unhealthy hold over the national imagination regarding the future of Chinese ties, let’s explore where his vision would take us. Paul Keating would like to see Australia’s commitment to ANZUS modulated versus Chinese interests. That will mean a much more insecure commitment by the US to Australia so the first implication
Via Sinocism comes lots of Hong Kong texture: Hong Kong protests: Last stand under way as police close in on besieged Polytechnic University – The Washington Post Thousands of Hong Kong protesters flocked to a besieged Hong Kong college campus on Monday evening, accompanied by political leaders and school principals acting as mediators, hoping to
For a day supposedly dominated by “realism”, the obvious didn’t get a look in at The Australian’s Cowards of Canberra Conference yesterday. While the PBOC was forced to cut interest rates to combat a structural slowdown in the Chinese economy, and Hong Kong degenerated into near open war, all the Canberra cowards could discuss was
From Paul Xeating just now: Paul Keating says Australia’s foreign policy lacks “any strategic realism” and is leaving the nation unable to effectively manage the rise of China as Donald Trump vacates the Asia Pacific region. …Mr Keating said Australia should channel its focus on helping “design a new construct” that engages with China but
Via News: It’s undeniable that China’s influence around the world is increasing at a rapid rate and now countries just a stone’s throw away from our own are being taken over. When you think about Australia’s island neighbours in the South Pacific, the first thing that come to mind are probably the relaxed atmosphere and
Via Bloomie: Hong Kong police and protesters hardened their battle lines over the weekend as violent clashes showed no signs of abating, leaving the city bracing for a second week of upheaval that risks disrupting pending elections. The weekend saw pitched battles with demonstrators launching bricks, molotov cocktails and steel balls at police, who in
On Friday, L-plated Treasurer Josh Recessionberg approved the takeover of Bellamy’s by a Chinese Communist Party owned enterprise: Australia: Mengniu 蒙牛 , agent of Chinese party-state in NZ, created CCP United Front Chinese business group, the China NZ Business Council 中国-新西兰商务理事会 under control of Yashili owner Mengniu and CCPIT. Now approved to buy Australia’s Bellamy’shttps://t.co/EN9EcS3ujO
Trade war going swimmingly. Via the German Chamber of Commerce in China, things are not going well: One quarter of firms have given up on Chinese expansion: A range of reasons: With trade war issues at the top: Nasty impact from tarrifs: One quarter mulling relocation: Mostly to SE Asia: Chinese growth will keep slowing.
So says the FT: Demonstrators and police officers are experiencing a kind of epiphany when they realise there are no repercussions for smashing the thin veneer of civility. As a consequence, the range of acceptable behaviour has widened dramatically and the most brazen and outrageous actions are becoming normalised. This is fed by social media
Via the AFR: Under sweeping new rules, universities will have to fully disclose who they’re working with on research projects and all financial dealings with other countries and donors, as the federal government demands action against “corrupting” foreign interference. Amid concern about China’s influence in universities that have become heavily financially dependent on foreign students, research projects
Via Sinocism: Watching this week’s events in Hong Kong is heartbreaking. There is growing speculation that Beijing may be on the verge of sending in the PLA and/or the People’s Armed Police to attempt to restore order. I am skeptical that anything like that is imminent. There however seems to be no obvious pathway to
It’s so very rare these days to see an Aussie with balls but Drew Pavlou has ’em. He’s now taken his fight against the CCP takeover of the Univerity of Queensland to the front page of the Financial Times: Drew Pavlou is an unlikely threat to the Chinese Communist party. The 20-year-old arts student at
Via the ABC: Hong Kong police have warned violence is bringing the Chinese-ruled city to the “brink of total breakdown” after more street battles raged in several parts of the territory. Police on Tuesday fired tear gas in the heart of the central financial district and at two university campuses to break up pro-democracy protests.
It’s a question that you need to ask because if present trends are allowed to develop then Australia will be the next Hong Kong within twenty years or more. Will you like it when Carry Lam is running the joint for Xi Jinping? Via Domain: Hong Kong chief executive Carrie Lam has labelled protesters the
Via HKFP: A long day of unrest left several injured on Monday as protesters attempted to disrupt the morning commute as part of a plan to mobilise a mass general strike. They urged students to boycott classes, business owners to close shops and employees to skip work, in keeping with the city’s 24 weeks of
It was a weekend of violence, via Bloomie: The protests intensified throughout the city over the weekend in response to the death Friday of a student who was injured earlier near a recent clash between police and protesters. Activists vandalized shops and train stations, and threw Molotov cocktails at a police station, blocked roads, hurled
Via the ABC: It is a warm spring night and Government House in Perth is illuminated with a red, China themed glow. Industry leaders, dignitaries and diplomats have been invited by the WA chapter of the Australia China Business Council to toast China’s National Day. The mood is friendly as the state’s political, business and
When Quartz decided to ask whether WeChat should be banned in democracies there was no better place to look than Straya: Like other social media platforms, WeChat is being used more and more by political parties around the world to appeal to potential voters. Its reach is considerable. It’s the world’s fifth largest social media
Via Sinocism: The relevant authorities released the Plenum decision Tuesday, so far there is no official English version, in my initial read I did not see anything surprising given what what came out last week. That may change with a closer read. Sinocism readers will not be surprised by the news that China has made
FT says he is mulling doing so: Trump administration officials are debating whether to remove some existing tariffs on Chinese goods as a concession to seal a partial deal that would pause the trade war with Beijing as early as this month. According to five people briefed on the discussions, the White House is considering
Via Sinocism today: 习近平会见林郑月娥 Xi met with Carrie Lam Monday in Shanghai, says the Party Center has confidence in her. Minister of Public Security Zhao Kezhi attended the meeting. 在听取了林郑月娥关于香港近期局势的汇报之后，习近平表示，香港“修例风波”已持续了5个月，你带领特区政府恪尽职守，努力稳控局面、改善社会气氛，做了大量艰辛的工作。中央对你是高度信任的，对你和管治团队的工作是充分肯定的。止暴制乱、恢复秩序仍然是香港当前最重要的任务。依法制止和惩治暴力活动就是维护香港广大民众的福祉，要坚定不移。同时，要做好与社会各界对话和改善民生等工作。希望香港社会各界人士全面准确贯彻“一国两制”方针和基本法，齐心协力，共同维护香港的繁荣稳定。 After listening to Carrie Lam’s report on the recent situation in Hong Kong, Xi Jinping said that the Hong Kong SAR government, under your leadership,
Via the WSJ: The U.S. is trailing China in numerous critical technologies, making the role of the private tech sector more important than ever to American national and economic security, a Defense Department official said Wednesday. Michael Brown, director of the Defense Innovation Unit, a branch of the Pentagon, said that while the U.S. has
Via the ABC: China is warning Australia to avoid straining bi-lateral relations following criticism from Australia’s Foreign Minister Marise Payne on China’s human rights record. During a foreign policy speech in Sydney on Tuesday, Senator Payne said Australia would continue to advocate for democracy and human rights in China, adding that staying quiet on sensitive
Depending upon how big the bribe and how stable the nation. Via Sinocism today: China and West clash over claims Beijing oppresses Uighurs – AP Belarus read a statement on behalf of 54 countries commending “China’s remarkable achievements in the field of human rights” and taking note “that terrorism, separatism and religious extremism has caused
Via Gottiboff: Almost half the Telstra share base comprises retail investors who rely on the company’s dividends to shield them from the impact of lower interest rates. What few Telstra shareholders realise is that the global Huawei saga of recent months has the potential to link future Telstra dividends to the flow-on repercussions created by
Sigh. It’s awful to watch, via the AFR: Chinese billionaire Huang Xiangmo is set to make a $135 million profit from a Sydney planning decision, after the deputy mayor of a local council failed to declare his $4 million interest in another company owned by the property developer. Simon Zhou, an independent who holds the
Via the AFR: China’s restrictions on Australian coal are expected to remain in place into next year as Beijing seeks to moderate a spike in foreign imports of the commodity to protect domestic supply. While there had been hopes in Canberra that the unofficial quota on Australian coal exports to China would be wound back
Bravo! Via the AFR: Even by the regular standards of modern campus activists, Drew Pavlou is particularly annoying. …He has just been elected – by the largest margin ever, he boasts – to the university Senate, which he plans to use as a platform for a campaign to sever its connections with the Chinese government,