CHINA’S abrupt ban on Australian beef this week is the first shot in an escalating trade war – and not just a petty labelling dispute, as some are calling it.
If Australians fail to recognise this and don’t respond accordingly, the nation will suffer not only short-term pain but oppressive generational consequences.
China’s Communist Party is in full retaliation against Prime Minister Scott Morrison’s demand for a full and open enquiry into the origins of the Coronavirus.
TORMENTING
After threatening trade reprisals last week, this week the Chinese government placed a ban on a third of Australian beef exports and is now tormenting the nation’s drought-stricken crop farmers with tariffs.
Former prime minister Tony Abbott, who delivered the China free trade agreement in 2015, said Australia must respond with great care and caution.
“What we have to understand with China is that it is a capricious customer,” Mr Abbott said.
“We see China in commercial terms, they see us in political terms, in fact being a communist totalitarian State they see everything in political terms.
“We need to remember that while we trade with them, fine, while we have all sorts of collaborations with them, fine – [but] they are trying to get leverage out of these far beyond the merely commercial.
VALUES CLASH
“We have to appreciate that China is a country unlike any other that we deal with.”
Mr Abbott said Australian business leaders should not get involved in a values clash in China’s favour.
“There are too many people in Australia, on a whole range of issues, who are much better at taking the other fellow’s side than ours,” the former prime minister said.
“In the end, whether it’s on the sporting field, on the cultural field – in the marketplace you’ve got to be on your own country’s side.
“Now the great thing about Australia is that we play fair, we are decent, we want the other person to get a fair go – but in the end we also want Australia to remain the most wonderful country on earth.
“And that means standing up for ourselves a bit more.”
Australia will need to recognise China’s regime for what it is and to quickly widen its trading relationship with other countries – particularly Commonwealth nations such as India and post-Brexit Britain. PC
The zeitgeist worm is turning “big time” , even my left wing sister in-law is talking about strong border control, Australia manufacturing again, traditional family values and freedoms that make Australia great.
I think Australia is starting to wake up.
Well said Tony! I couldn’t agree with you more. It is the first rule of business, not to put one’s eggs all in one basket. If the basket should fall over and the egg crack, the business is out of business. Govt would do well to take heed of that advice too. When it comes to money the attitude is nearly always self serving, so one has to watch one’s back – and never more so than in this instance when the sought after payoff is also enormous power.