Knowing that it has lost out on the trade war with the US, the Communist Chinese government in Beijing continues to lash out at America’s ally in the region, Australia. An editorial in the state-run Global Times newspaper wasted no time in making clear that it’s “time for China To Cool Sino-Australia ties.”
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“It is necessary for China to leave Australia hanging for a while, instead of being too quick to bury the hatchet whenever Canberra tries to put a smile on its face.”
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">"Last year, Australia exported $76.45 billion in goods to China. Lowering Aussie exports by $6.45 billion wld send cold chills up and down the spine of Australia. Of course, it would be an even greater shock if the import reductions totaled $10 billion." <a href="https://t.co/lafMk30t0S">https://t.co/lafMk30t0S</a></p>— FrankfurtFinanz (@JppMorgann) <a href="https://twitter.com/JppMorgann/status/999423701295751168?ref_src=twsrc%5Etfw">May 23, 2018</a></blockquote>
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The newspaper furthermore advised that the Chinese industry should replace items like wine and beef with similar products from the US or Europe.
<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">China will buy more commodities and less Treasuries from USA; probably less commodities from other countries like Australia <a href="https://t.co/2gPpOWs1TO">https://t.co/2gPpOWs1TO</a> <a href="https://t.co/Pj5EFCvoLW">https://t.co/Pj5EFCvoLW</a></p>— RationalInvestor (@Orangeman1992) <a href="https://twitter.com/Orangeman1992/status/999336138669281281?ref_src=twsrc%5Etfw">May 23, 2018</a></blockquote>
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The article continued claiming that is was a good moment to “make Australia pay for its arrogant attitudes it has revealed toward China over the past two years.”
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However, during the meeting that Foreign Minister Julie Bishop had with her Chinese counterpart Wang Yi, words like “warm, candid and constructive” were used to describe the encounter, with Ms Bishop claiming she “gets along very well” with Mr Yi.
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Furthermore, even if China threatens to stop buying raw goods needed for its manufacturing industry from Australia, international investors agree that South Korea, Japan or US high-tech companies would surely pick up the slack.
Wine and beef are small potatoes compared to the Australian exports of minerals which China desperately needs.
Most commentators agree that China is blowing a lot of hot air to keep its pride in check rather than making a move against Australia so far, but of course, the government of Mr Turnbull has been warned now.
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