What do we expect.? China has signed up over 100 countries out of 193 to its One Belt One Road Project which outlines China's long term plans for resources supplies & goods distribution. Our Government has flately refused to be part of it so as OBOR suppliers come on line, China will naturally give them preference over non-members, IMO. By the way the State of Victoria has signed-up to OBOR. Is that may be the reason that Victoria's bee exporters have not been barred from the Chinese beef market. ?
If one is a Marxist with Chinese Characteristics, then one believes that economics trumps politics and that is precisely what is happening at the moment.
The question is do we want China to teach us an economic lesson now when we face a protracted recession with mounting National Debt , have an annual $45 billion trade surplus with China and rely on China for nearly 40% of our exports without a plan "B".?
I dont think so but that is only IMO.
Trump's objective is to balance trade with China and if we run with that principle rather than the globalised economic one, then its fair of China to insist that we too balance trade with China ( If its good for the goose, then its good for he gander...eh?)
Just imagine critisising your primary source of income ( your boss) for being a bully when your plan "B" is the breadline! It just doesn't make sense.
The problem we have is that most Aussies dont benefit from our mineral , energy and other major resources due to the foreign ownership of these resources and we simply cant see the downside for Australia because, rightfully or wrongfully, it wont effect our hip pockets and a such we have the perceived liberty to vent our emotions rather than objectively reason/appraise our current economic predicament.
All IMO only. I note with interest that Labor is remaning relatively mute on this but I guess if Morrison stuffs up the economy by "Foot in Mouth" disease, it will give Labor a penalty kick to regain power come the next election..eh?
The prospect of loosing our farm exports to China with perhaps hard commodities to follow is an unacceptable price to pay for backing a megalomaniac like trump. If we want our economic freedom, then we have to diversify trade and remain politically neutral. We can readily diversify trade by processing our iron ore into steel by using our premium coking & PCI coals and then supply cheap steel to over 100 developing countries. We can also do that same with our beef by canning it and selling into 3rd workd emerging economies that have not fully electrified yet. A friend who come back from PNG last year and he said that prestige thing to do in home cooking there was to open a few cans of tinned food & heat them up for dinner. We have the steel, the tin & the beef; all we need is the will to do it.
Instead we import silly tinned food from China, Thailand, Vietnam , Chile , Canada, India etc.....just have a bo peep at your Wollies & Coles shelves!
PS: Its interesting how China post CV-19 has taken the heat off the Muslims by the Islam-bashers ....talk about throwing the dog another bone...eh?
