Can Australia Withstand Another Swipe From China?

Originally posted by moorookamick: ↑

Recent Chinese investment in Europe via its BRI and strategic buys of European businesses/assets indicate that China regards Europe (particuluarly the EC) as a friendly trading partner while at present that cant be said about Aus.

If as you say that Morrison has a long term view for Australia relative to our China relationship (other than wishful thinking that the US will demolish the Chinese economy as it did that of the USSR) , then he should cough it up now to give Aussies whose nbusinesses and livlihoods have been devastated as a result of Covid & Chinese trade barriers.

Our trade surplus with China 2019 was $70 odd billion AUD (net global trade surplus of about $2 billion)
What is Morrison doing now and when to avert a $50 billion trade deficits going forward?

IMO, like all pollies, he may have a plan for re-election but it is difficult to discern what his plan is to maintain our National Trade surplus so that we can continue to enjoy our current standards of living.

We are preparing to spend $300 billion to arm ourselves against China and most of this hardware & software will be imported.

I have proposed previously that our best economic strategy is to downstream process our minerals using our LNG & Coals so that we can add Aussie value (increase our trade surpluses & GDP) diversify trade away from China dependance and share the profits equitably with all Aussies.
(see details in my posts on other threads)

Doing nothing except handing out borrowed money is not a National Plan to see us recover from our crippling Recession.
We have already racked up $1.2 Trillion in Commonwealth, State & Muni debt with that likely to loft to $2 trillion in two years
and with a contracyed economy then, that will likely be 110% of our GDP.

We have sent China a signal & China has replied so it is now time for plan B which at present is nowhere in sight and I doubt that the Libs have the wherewithal given their Back Bench's Neo-Liberal beliefs.

We need a Mercantilist approach here , IMO, which means:
(a) reviewing our FTAs and weeding out the unprofitable ones for Australia (not for Multinationals like our Thai & Singaporean ones)
(b) devising a national strategy to facilitate the processing of our raw materials into products that have a broader global demand
(c) ensure the longevity of the strategy by requiring Australian ownership/control

We have amazing resources which are, at present, predominantly foreign owned and whose owners will drop Australia like a hot potatoe
if there's a quick buck in it for them.

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http://haniel.unternehmensberichte.net/reports/haniel/annual/2015/gb/English/1045/the-four-phases-of-the-industrial-revolution.html