The AFR puts brave face on for China today: China has urged its citizens not to panic as its trade war with the United States escalates, declaring the world’s second-biggest economy can withstand a battle and that it is not afraid to “fight back”. In a notable shift from its earlier, softer stance towards Donald
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.
Must listen here. I obviously side with Clive Hamilton in this debate. For me the key point is that Hugh White is no economist. Indeed, in relying upon Australian Treasury forecasts for Chinese growth ten years hence, he is taking the word of muppets demonstrably unable to get their own economy right, let alone the black
Very important stuff from Clive Hamilton today: Understanding China’s Threat to Australia’s National Security As long at the Communist Party rules China it will pose a persistent and serious threat to Australia’s national security. Over the last two years we have made considerable progress in setting up defences against Beijing’s subversion and covert influence. But
Via the AFR: A spokesperson for US Secretary of State Mike Pompeo said on Tuesday (AEST) that the use of Chinese telecommunications equipment in 5G networks could leave sensitive data open to Chinese government access. “The United States is very concerned about that – not only for American national security, but for the security of
It’s just not an easy question to answer. Steve Bannon shows why: Getting tough with China to bring manufacturing jobs back to the United States was the linchpin of President Trump’s electoral march through the Rust Belt during his 2016 victory. Today, the goal of the radical cadre running China — the Chinese Communist Party
DXY fell overnight as EUR firmed but CNY fell: AUD/USD was heavily bid again back to 0.70 cents though its chart is still very bearish: It was weaker versus EMs stocks: Gold lifted modestly: Oil jumped: Metals were stable: Miners rose: EM stocks were hammered via Shanghai: Junk was OK: Treasuries were bid: Bunds too:
Via the Saturday Paper comes Wanning Sun, professor of media studies at University of Technology Sydney: …It is still too early to tell whether a strong WeChat presence will translate into votes for Labor. Dr Chaoguang Chen, the president of the newly established Chinese Australian Multicultural Association, says these short live sessions are “largely symbolic” but
Via the ABC: British Prime Minister Theresa May has fired her defence secretary, Gavin Williamson, saying an investigation suggested he was to blame for leaking discussions about Chinese telecoms company Huawei from her National Security Council. An investigation was launched last week after the Daily Telegraph first reported that the security council, which meets in
Via BI: The Chinese People’s Liberation Army Navy (PLAN) is one of the largest naval forces in the world, and it continues to grow. More importantly, though, China is rapidly building and fielding increasingly capable naval vessels, weapons that could tip the scales in the US-dominated Pacific. The Chinese PLAN has probably benefited the most
Oh dear, at Bloomie: For months, Huawei Technologies Co. has faced U.S. allegations that it flouted sanctions on Iran, attempted to steal trade secrets from a business partner and has threatened to enable Chinese spying through the telecom networks it’s built across the West. Now Vodafone Group Plc has acknowledged to Bloomberg that it found vulnerabilities going back years
It’s something to behold, via Bloomie: Tellurian Inc.’s proposed $28 billion Driftwood terminal in Louisiana and Sempra Energy’s Port Arthur LNG project in Texas were cleared by the Federal Energy Regulatory Commission in a 3-1 vote in Washington, with Democratic Commissioner Richard Glick dissenting. The approvals followed a breakthrough at the commission, which had been
Via the Communist Party mouthpiece Global Times: According to Reuters on Saturday, China told Australia at the World Trade Organization (WTO) on Friday that Australia’s restrictions on Chinese 5G technology was “obviously discriminative” and appeared to break global trade rules. However, Australian Trade Minister Simon Birmingham said on Sunday that the Australian government “stands by
Great stuff today from Zero Hedge on the ongoing trade saga: With 4 minutes to go before the close of trading and stocks within spitting territory of red for the day, someone had to take control of “price discovery” and with the FT’s street cred already used up after it’s “90% done” report last night,
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
Bravo. Via Domain: The Confucius Institute cultural and language education centres have received letters from the Attorney-General’s Department, alerting them to the introduction of the transparency regime, one of the measures put in place by the government in a bid to crack down on foreign interference and influence in Australia. …Some other university-based facilities have
Via Gideon Rachman at the FT: During the cold war, there was an “east” bloc and a “west” bloc and nations were defined by whether they were closer to Washington or Moscow. …In the battle for influence with China, the US’s trump card is often security rather than trade. Countries including Japan, South Korea, Germany
Aussie coal is still struggling to get a berth in China, at The Australian: Australia’s coal exports to China could face a continued slowdown as Chinese authorities step up their campaign to improve the environment, with new figures showing a sharp cut in coal imports into China in February. “China has been slowing coal imports
Via NYT: President Trump says he is optimistic that a landmark trade deal with China is close. Chinese officials are not so sure. The two sides in recent weeks agreed to the broad outlines of an agreement that would roll back tariffs in both countries, with China buying more American goods and opening up some
Via the AFR comes Peter Costello on the US/China Cold War: “This has always been Australia’s strategic dilemma – if Australia ever has to choose between economic prosperity and its security, it will choose its security,” Mr Costello said. Conflict is inevitable, said Mr Ferguson, Harvard University professor…Survival for Australia, caught between such a conflict,
by Chris Becker According to US President Donald Trump, there’s been “progress” made in the ongoing trade talks with China, enough to delay the tariff increase that was set to kick in on March 1st. In tweets (that look written by his staffers given the proper grammar and multi-syllabic words), he said: “I am pleased
In this week’s webinar we explored the retaliation of China on a number of fronts (recorded before today’s big coal escalation). Join MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Tim Fuller as we bring you up to speed on the levers China can pull to exert influence on the
Via The Australian: An international cyber hunt involving Australian, US and British intelligence agencies has been launched in response to an attack on the Australian parliament and the major political parties using a form of sophisticated “tradecraft” that had not been detected before. While the source country has not been identified beyond doubt, intelligence officials
Via Banking Day: Nathan Lynch of Thomson Reuters Regulatory Intelligence The revelations about Chinese asset recovery agents operating covertly in Australia will put pressure on the Department of Home Affairs to introduce law reforms ahead of the May general election. The government is sitting on “Phase 1.5” legislation that will prepare Australia for the introduction
Via Domain: Two Australian Chinese-language papers have dedicated their front pages to an open letter backing billionaire Huang Xiangmo, whose permanent residency was cancelled for reasons including character grounds in early February. The letter, which appeared on the front pages of the Sing Tao Daily and Australian Chinese Daily and inside a third, the Daily
Via Bloomie: Secretary of State Michael Pompeo came close to issuing an us-or-them ultimatum to nations buying from Huawei Technology Co., saying in Hungary that contracts with the Chinese networking giant could limit the availability of U.S. equipment. “If that equipment is co-located where we have important American systems, it makes it more difficult for
Old man Gotti has gone way beyond the pale today: The anger China has with Australia is unique and does not apply to any of its other developed country trading partners….business people were told mid last year that a number of our universities would see a softness in Chinese enrolments during 2019. And, of course,
This is not serious, via The Australian: Clive Palmer has claimed in a national television advertising blitz that the Chinese Communist Party may be plotting a “clandestine takeover of Australia” through a little-known airstrip in the Pilbara capable of taking military aircraft. He did not mention in the ad, which aired last night, that the