China Chamber Mon, 26 Apr 2021 13:34:24 +0000 en-US hourly 1 China Chamber 32 32 Aussie dollar underperforms as RBA policy and China trade war weighs in Mon, 26 Apr 2021 12:00:00 +0000

The Australian dollar (AUD) has rallied against the US dollar (USD) in recent weeks, but has underperformed other G10 currencies.

This is mainly due to the policy of controlling the RBA’s yield curve and the downward pressure on yields.

The ongoing trade war with China won’t help sentiment, especially given Australia’s latest move, but in fact, exports to China have increased despite the restrictions.

Markets got off to a relatively slow start in the last week of April with slight gains in European equities after a mixed session in Asia which saw China drop around –1.5%. The currencies are flat with only the British pound and the Australian dollar making movements of any note. GBPUSD is + 0.3% and AUDUSD is 0.5% while EURUSD is unchanged. Meanwhile, Bitcoin is gaining attention after rebounding 10% from a low of nearly $ 47k which was officially in bearish territory (-20%) from the April high.

The coming week is packed with data, US earnings from some of the tech heavyweights, and central bank meetings of the Fed and BoJ. Many analysts expect the Fed to stay firmly in place and the US dollar’s downtrend to continue. Most central banks seem to be waiting for the Fed to look into the hawkish before doing it themselves, but the BoC went it alone last week by making significant hawkish moves by cutting QE and signaling a rate hike. at the end of 2022. If the Fed once again drags its feet this week, as widely expected, then maybe other banks will follow the BoC’s lead.

AUD under pressure

The RBA is unlikely to do anything anytime soon, mainly because the Australian dollar has performed so well over the past year. However, there are signs that its policies – particularly the control of the yield curve – are finally having an effect on the AUD as it has started to underperform in the last month or so. AUDUNZD fell -1.7% from March highs to find support at 200 dma around 1.065, while EURAUD has been making higher lows on the monthly chart since February. AUDUSD starts the week strong near 0.78, but is still below the 0.80 annual high.

And it’s not just the policies of the RBA that weigh on the Ozzie. A quiet trade war is underway with China, all sparked by Australia’s insistence China should be more open with information on the origins of Covid-19. In recent months, China has imposed import restrictions on a number of products from Australia, including charcoal, timber and red meat. Australia in turn restricted China’s access to Australian financial markets and trade agreements. Relations have deteriorated further in recent days, as reported by ING:

“The Australian government’s decision to abandon the Belt and Road Initiative (which would have allowed an increased presence of Chinese companies in Victoria’s infrastructure projects) is another worrying signal that diplomatic and trade relations between the two countries should remain fragile. The main risk for the AUD is that China will retaliate in the coming days by hitting Australian exports again. “

bannerYet despite the fallout, the South China Morning Post said China’s imports from Australia rose 20.9% to $ 33.73 billion ($ 44.37 billion) in the first quarter. . This was mainly due to a demand for iron ore.

“Chinese iron ore imports from Australia surged in March as demand for steel in the country’s construction and manufacturing sectors remained healthy amid a continued recovery from the slump in the country. last year, ”reports the Financial Review.

If China were to strike back with restrictions on iron ore, it could cause a major dent in Australia’s economy. Demand has ensured that this does not happen yet, but with additional supply from Brazil and demand slowing, the risk increases.

In the near term, the Australian dollar will be pulled by Tuesday morning’s CPI reading, but attention will turn later in the week to Chinese PMIs and any backlash against Australia’s latest shot in the ongoing trade war.

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Dynamics of China’s construction industry and growth prospects to 2025 in residential, commercial, industrial, institutional and infrastructure construction Mon, 26 Apr 2021 11:30:00 +0000

DUBLIN, April 26, 2021 / PRNewswire / – The “China Construction Industry Data Book Series – Market Size and Forecast (2016-2025) by Value and Volume (Area and Units) in Over 40 Residential, Commercial, Industrial Construction Market Segments , institutional and infrastructure – Update of the first quarter of 2021 “ the report was added to from offer.

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While the coronavirus epidemic severely affected the Chinese construction industry in the first quarter of 2020, the resumption of construction activities accelerated in the second quarter. After China’s exit from the pandemic in March, the Chinese government launched a program that included a series of fiscal stimulus measures for the construction of roads, bridges, broadband, utilities and railways across the country. As a result, the prices of metals, including nickel, copper, iron ore, zinc and others, used to build infrastructure, have increased.

While construction output grew weaker than expected in 2020, it is expected to rebound sharply in 2021. Moreover, China is poised to become the largest construction industry over the next decade.

With the government pumping money into the economy, the publisher expects GDP growth to remain stable over the forecast period. This will be supported by an increase in public spending in the construction sector in China. The increase in spending in the construction sector is also reflected in the fact that sales of construction equipment jumped in China.

With the Chinese government reducing the supply of mortgages to consumers, the industry is expected to be affected in the future. To get consumers to spend more rather than pay off their debts, policymakers are looking to stimulate the recovery by reducing the availability of mortgages. As a result, residential construction prices are expected to remain stable in the near term.

The commercial construction sector in China is also recovering from the pandemic. With national and regional governments pumping money into commercial construction, the outlook for 2021 remains positive. In Guangdong, regional managers plan to pump around US $ 100 billion on public medical facilities, among other infrastructure construction activities.

Rising wages are also expected to boost consumer behavior by China. Thus, the demand will stimulate a range of services, including education and entertainment, which will subsequently create a demand for the construction of facilities in the country.

The post-pandemic recovery is strong due to the Chinese government’s soaring infrastructure spending. Thus, offering a positive outlook for the construction sector in 2021. In addition, the public rail operator in China intends to double the size of its high-speed rail network over the next fifteen years. Thus, support the growth of its infrastructure construction sector.

According to this global construction survey Q4 2020, the construction sector in China is expected to grow by 12.4% to reach US $ 1,355,314.5 million in 2021. Despite the short-term challenges in some construction sectors, medium and long-term growth China remains intact. The construction industry in China is expected to grow steadily over the next four quarters. Growth momentum is expected to continue over the forecast period, registering a CAGR of 6.4% between 2021 and 2025. Construction production in the country is expected to reach US $ 1,737,386.8 million by 2025.

This report provides data and trend analysis on the construction industry in China, with more than 100 KPIs. It is a data-centric report that provides trend analysis with over 140 charts and over 110 tables. It details market size and forecast, emerging trends, market opportunities and investment risks in over 40 segments in residential, commercial, industrial, institutional and infrastructure construction sectors.

It provides a comprehensive understanding of construction industry sectors in terms of value and volume (both by activity and by unit). The report focuses on combining industry dynamics with a macroeconomic scenario and changing consumer behavior to provide a 360-degree view of opportunities and risks.

Main topics covered:

  • Dynamics and growth prospects of the construction industry in China

  • China Residential Construction Industry Market Size and Forecast

  • Residential construction market outlook analysis by type of construction

  • Residential construction market outlook analysis by key cities

  • Outlook Analysis of Residential Construction Markets by Price Point

  • China Commercial Construction Industry Market Size and Forecast

  • Office building construction prospects

  • Retail building construction prospects

  • Construction prospects for the reception building

  • Restaurant building construction outlook

  • Construction prospects for the sports facilities building

  • Other prospects for the construction of commercial buildings

  • China Institutional Construction Industry Market Size and Forecast

  • Prospects and growth dynamics by institutional building construction sector

  • China Industrial Construction Industry Market Size and Forecast

  • Prospects and growth dynamics by industrial building construction sector

  • Prospects for infrastructure construction

  • China Marine and market size and forecast of inland water infrastructure construction industry

  • China Distribution Network Infrastructure Construction Industry Market Size and Forecast

  • China Transportation Infrastructure Construction Industry Market Size and Forecast

For more information on this report, visit

About is the world’s leading source for market research reports and international market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.

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China urges Australia to uphold one-China principle Mon, 26 Apr 2021 09:22:00 +0000

Chinese Foreign Ministry spokesman Wang Wenbin on Monday urged Australia to abide by the one-China principle and handle Taiwan-related issues with caution.

Wang stressed during a daily press briefing that respect for the one-China principle is an inherent requirement in the development of Sino-Australian relations and that Taiwan is an inalienable part of Chinese territory.

The Taiwan issue is purely an internal Chinese matter and involves the country’s fundamental interests, and no outside force is allowed to interfere, he said, adding that the root cause of the current tension in relations cross-strait is the Taiwan Progressive Democratic Party (DPP). The authority refuses to recognize the 1992 Consensus, which embodies the one-China principle, and works with outside forces to continually seek “independence.”

“China must and will be reunified. We are ready to do all we can to fight for the prospect of peaceful reunification, but we will never allow any room for any form of ‘Taiwan independence’ separatist activity.” Wang said.

He said that it is hoped that the Australian side will fully recognize the high sensitivity of the Taiwan issue, adhere to the one-China principle, treat Taiwan-related issues with caution, and refrain from sending wrong signals. to “Taiwan independence” separatist forces, and do more to promote peace and stability in the Taiwan Strait and Sino-Australian relations.

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Scott Morrison’s climate change policy is being left behind by corporate action Sun, 25 Apr 2021 19:14:26 +0000

It is not an easy task to try to make inaction a virtue.

So think of Prime Minister Scott Morrison in his address to US President Joe Biden’s virtual climate conference with world leaders late last week.

Although he disagreed with the majority of those in attendance, many of whom exceeded already ambitious targets of achieving net zero carbon emissions by any given date, Mr Morrison was upbeat, confident and a man who seemed to be on top of things. destiny of his country.

Australia would focus on delivering the goods rather than making any promises on the timetable for a net zero carbon future, he said. We’re all about the how rather than the when, he said.

With the weaker majorities and an imminent election, the Prime Minister’s reluctance to commit to anything concrete is understandable from a domestic political perspective. Climate policy has been a career killer for much of this century, with at least three prime ministers seen by rivals scoring points.

But there was a statement from the Prime Minister that hit the target.

Our effort to reduce emissions, he said, would be driven by technology, innovation and our vibrant private sector.

It’s hard to disagree. Since 2005, Canberra’s shambolic approach – sudden policy reversals, leadership vacuum, indecision and broken promises – has meant that any progress Australia has made on climate policy has been driven almost entirely by a private sector frustrated by increasingly alarmed at the prospect of being isolated by global investors.

Even so, despite one of the largest rooftop solar penetrations in the world, and as aging coal generators are phased out early in favor of renewables, our carbon emissions have fallen at a much faster rate. slow than in the US and Europe.

How bad is Australia when it comes to global warming?

Here’s how we stack up in terms of production. This graph and the one below measure our carbon emissions per capita or as individuals.

Australia was near the world summit in terms of per capita emissions a few years ago.

As you can see, we’re right up there, vying for Olympic gold.

And this is how we continued to reduce these emissions.

We are still a world leader in CO2 emissions despite a reduction.

Although our emissions have declined, we are still world leaders on a per capita basis. And this despite the implementation of a mass immigration policy which should have made our per capita figures much better.

Even China, where emissions rose sharply in the decade and a half of the turn of the century, began to stabilize at less than half of ours.

When it comes to global emissions as a nation, however, China is the clear leader after becoming the global factory in the new millennium. But we still rank alongside the UK, despite our much smaller population. In fact, we are now at the same level as the Old Dart when it comes to carbon emissions.

The annual CO2 emissions of China, the United States, the European Union, Australia and the United Kingdom.

What price for the future?

It was the Prime Minister’s refusal to set a firm date on a carbon reduction target at the summit that drew the most criticism.

However, it was not just the moment that was missing from the Prime Minister’s speech last week.

Space to play or pause, M to mute, left and right arrows to search, up and down arrows for volume.

Play the video.  Duration: 2 minutes 20 seconds

Prime Minister says Australia supports technology, not taxes, to fight climate change

We certainly had the who; businesses and households. But despite his assurances about the management, we didn’t have a lot of details on how.

It was planned to spend $ 539 million on new clean energy projects, including “hydrogen poles”. Yet aside from the insignificant amount, this was not the strategy Mr. Morrison’s global peers were looking for.

But if they want to hear about carbon pricing, they may have to wait.

Traditionally, the Liberal Party has tended to rely on free market mechanisms to achieve an economic end. Cutting red tape, cutting public spending, eliminating subsidies and individual choice has always been part of the mantra.

The Australian Labor Party, on the other hand, is still accused of overspending and directly intervening with grants and government-funded programs.

When it comes to the climate, however, these preconceptions have gone astray.

Space to play or pause, M to mute, left and right arrows for search, up and down arrows for volume.

Play the video.  Duration: 5 minutes 50 seconds

Is green hydrogen the fuel of the future?

Rudd’s Labor government committed to a carbon price and the succeeding Gillard Labor government introduced a carbon tax, which was to translate into a carbon price. The free market would determine our energy and climate future.

But the program was scrapped by the new Abbott government, which replaced the market mechanism with a subsidy, the Emissions Reduction Fund. It has since paid out nearly $ 3 billion in public funds to polluters to encourage them to change their practices.

Malcolm Turnbull attempted to reintroduce a carbon price through his National Energy Guarantee, via a secondary trading mechanism between power companies. It was enough to tip the balance of power within the party – Mr. Turnbull was gone and Mr. Morrison was installed at the head.

Unsurprisingly, he insisted last week that there would be no carbon tax and no carbon pricing and, again, reverted to direct government aid.

While we have no qualms about taxing the life of tobacco, in a direct attempt to raise funds to cover the health costs associated with the drug and send a price signal to deter Australians from smoking, a price on the carbon is as far away as possible. never.

No carbon tax here – but maybe we’ll pay anyway

More than 29 countries – many in Europe, as well as Canada and parts of the United States – have implemented a carbon price or tax, designed to send a signal to energy companies, polluters and consumers on how to invest in energy production and industrial output.

Despite the political vacuum, Australian households have become the biggest rooftop solar enthusiasts in the world and our utilities have now accelerated their exit programs from the aging coal-fired fleet, with Victoria’s Yallourn being the next to be deleted early.

It’s not hard to see why. Renewable energy is cheaper to install, and saving renewable energy with backup – be it batteries, stored electricity, or gas – has now cut back on coal. They are cheaper to build, operate and are much more flexible.

Even so, when it comes to power generation, a recent OECD report identified our dependence on coal as a major cause for concern.

Australia’s dependence on coal is in the spotlight.

Without political leadership, Australian businesses risk being stranded by a global community that has embraced a carbon-free future.

Longer term, thermal coal faces huge challenges and even liquefied natural gas – of which Australia has recently become one of the world’s largest exporters – is now in question as a fuel for the world. ‘to come up.

AGL’s recent decision to separate its coal-fired generators into a separate unit, so investors can choose between green power unencumbered by its old power plants, is a sign of things to come.

More broadly, the European Union recently called for a border carbon tax – a penalty on goods imported from countries that do not have carbon prices.

While some of our leaders still debate climate change and energy policy as an ideological issue, the world is changing. Australian businesses have long understood that this is an economic problem.

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Almost a third of Australians born abroad: report, Australia / NZ News & Top Stories Fri, 23 Apr 2021 07:07:01 +0000

CANBERRA (XINHUA) – Almost a third of Australian residents were born overseas, data from the Australian Bureau of Statistics (ABS) revealed. According to ABS figures released on Friday April 23, 7.6 million people living in Australia in June 2020 were born in another country.

The cohort represents 30% of the total population of the country against 28% in 2015 and 27% in 2010.

“Australia’s population includes migrants born in almost every country in the world, highlighting our culturally diverse society,” Ms. Jenny Dobak, director of migration statistics at ABS, said in a press release.

“People born in England continue to be the largest group of foreign-born residents, representing 980,000 people. People born in India became the second group in 2020 with 721,000 people.”

More than 650,000 people born in China lived in Australia in 2020 – a 75% increase from 371,000 in 2010 – meaning it has overtaken New Zealand as the third largest country of birth.

The ABS also tabulated the impacts of the early stages of the coronavirus pandemic on migration data, revealing that 510,000 people have arrived to live in Australia from overseas in the 12 months through June 2020. , while a record 315,000 people have left the country.

The number of Australians returning home after living abroad has reached an all-time high of 99,000.

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Japan, Thailand and Vietnam rub shoulders with China for his or her affect in impoverished and landlocked Laos | Voice of America Fri, 23 Apr 2021 05:59:31 +0000

TAIPEI – Laos receives a brand new spherical of help and funding provides this yr as international governments hope to dilute China’s rising affect over poor landlocked nations, in keeping with observers within the area.

Japan, Thailand and Vietnam have moved this yr to supply new help or reaffirm the advantages of earlier help to Laos. Their help would come as a 400-kilometer, $ 5.9 billion Chinese language-invested railroad is anticipated to be accomplished this yr – the peak of Chinese language largesse for Laos.

Japanese Prime Minister Yoshihide Suga held talks along with his Laotian counterpart Phankham Viphavanh this month to verify plans to advance a strategic partnership, in keeping with Japanese media. Japan has supplied round $ 1.8 million to open COVID-19 vaccine storage amenities and has pledged to assist modernization of worldwide airports, in keeping with studies.

In Thailand, Prime Minister Prayuth Chan-Ocha spoke by telephone with the brand new Lao chief, who took workplace in March, the official Lao information company reported this month. On these appeals, Phankham thanked Thailand for offering scholarships in schooling, agriculture and well being. Thailand has additional helped Laos to struggle COVID-19, the information company reported.

Vietnamese officers have launched a 2021-2030 cooperation technique and a five-year cooperation settlement, Communist Celebration of Vietnam information web site Nhan Dan stated. Leaders on either side should resolve afterward what the 2 offers will cowl. Vietnam additionally offered COVID-19 help and 1,000 scholarships to Laos final yr.

Official Chinese language cash flows to Laos have reached $ 11 billion per yr, in keeping with the web site operated by the William & Mary College of america. Funding and funding would enhance the quantity.

The opposite main donors are Japan and Thailand, with Vietnam rising as a brand new nation. Japan gave $ 63.8 billion in 2016, together with grants, loans and technical help, in keeping with the Japanese International Ministry.

Official growth help from all nations typically reaches 15% of Laos’ GDP. The financial system has grown at an annual common of 5.8 % over the previous 5 years due to “assist from growth companions and pleasant nations,” the nationwide information company stated. The assist is necessary as a result of a couple of quarter of the 7 million Laotians reside in poverty.

Mekong river

A lot of Asia is hoping to scale back China’s affect in order that the superpower doesn’t exert an excessive amount of affect over the Mekong River, which flows from China by Myanmar, Laos, Thailand, Cambodia. and Vietnam, or on the area’s land transport hyperlinks, analysts stated. Chinese language dams management flows within the higher Mekong. The US authorities elevated its provide of help to Laos and its neighbors final yr.

“Laos is type of lower out in numerous instructions however more and more dominated by China,” stated Thitinan Pongsudhirak, professor of political science at Chulalongkorn College in Bangkok. “What we see is [that] the rivalry of the good powers dominates the area. Laos is only one pawn on this combine. “

Japan needs extra “connectivity” in mainland Southeast Asia, stated Jeffrey Kingston, professor of historical past on the Japanese campus of Temple College. China’s management of water movement within the Mekong River is additional worrying Japanese officers, he stated.

“I simply assume Japan is pointing it out, [in] locations which appear to have been conceded to Chinese language affect, he’ll dispute that, ”he stated. “He’ll undertake a powerful perspective in the direction of these nations.”

Japan depends on Thailand for vehicle manufacturing, whereas Japanese producers are more and more lively in Vietnam – a results of investments made there because the Eighties. Overland shipments can scale back the price of delivery. items to extra distant seaports.

Japan, alongside america. pushes again China, Thitinan stated. Washington’s Mekong-U.S. Partnership, an help plan launched in September, is seen as a counterweight to China in mainland Southeast Asia, together with Laos.

FILE – An area villager runs a ship the place the longer term Luang Prabang Dam web site might be on the Mekong River, on the outskirts of Luang Prabang Province, Laos, on February 5, 2020.

Japan is arguing individually with China over sovereignty within the waters close to its outer islands, and the remaining problems with World Warfare II.

Thailand sometimes funds Laotian dams for hydropower and has robust cultural ties with the border nation, Thitinan stated. Vietnam blames Beijing for its enlargement into the disputed South China Sea and former land border disputes, together with a battle within the Seventies.

“There’s this little battle for affect between Vietnam and China and Vietnam has slowly misplaced its affect in favor of China,” stated Jack Nguyen, accomplice at Mazars enterprise consultancy in Ho Chihuahua. Minh-Metropolis.

China doesn’t disclose help and funding totals for Laos, however analysts say it relies upon extra on China than another nation. Now Laos, with a gross home product of lower than $ 19 billion and an financial system ravaged by COVID-19, is struggling to pay for the railway line.

Laos owed $ 250 million on railways final yr, the Worldwide Financial Fund stated.

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Australia wins virus struggle however dangers shedding vaccine race Fri, 23 Apr 2021 03:44:00 +0000

Welcome to our weekly publication – a brand new world perspective on the tales that matter to Australian enterprise and politics. This week: How a sluggish vaccine rollout might maintain Australia remoted till 2022, the specter of extra commerce retaliation and exit from the community.

As a lot of the world faces a rise within the variety of Covid-19 instances, Australia takes one other massive step in the direction of normalcy this weekend when round 100,000 soccer followers collect on the largest stadium sportsman of the nation, with out having to put on a masks.

The federal government’s success in taming the virus has given us an enviable stage of freedom. However after profitable the containment battle, we now threat shedding the the vaccination struggle, as provide shortages and sluggish deployment jeopardize financial restoration.

With the vaccination schedule for all Australians vulnerable to falling in an election 12 months, this poses dangers for Prime Minister Scott Morrison.

“Some voters will really feel the brilliance of managing the pandemic fade away in the event that they see Australia behind all of those different nations of their vaccination deployments,” mentioned Jill Sheppard, coverage analyst at Australian Nationwide College in Canberra.

Well being Minister Greg Hunt was proper earlier this week when he urged individuals to take pleasure in soccer, stressing our “deeply privileged place in a world that in any other case faces a pandemic.”

The state of affairs in India. for instance, is horrible. The nation recorded the biggest one-day improve in new infections on the earth, with 314,835 instances on Thursday. India’s crematoriums and cemeteries are working additional time to deal with the rising demise toll. Social networks are inundated with individuals’s posts in determined want of assist – with requires hospital beds, drugs, oxygen and even meals for the quarantined aged.

Relations attend the cremation of a liked one in New Delhi.

Photographer: Hindustan Occasions / Hindustan Occasions

On this context, it’s improper to complain concerning the state of affairs right here. However the reality stays {that a} sluggish rollout of vaccines will probably go away our worldwide border practically closed till 2022, prolonging our isolation.—Edward Johnson

Business retaliation

Australian exporters put together for additional retaliation from China after the federal government canceled the Victoria Belt and Street Initiative settlement with Beijing.

The transfer “is yet one more unreasonable and provocative step taken by the Australian aspect in opposition to China,” the Chinese language embassy in Canberra mentioned in an announcement considered greater than 260 million occasions on Weibo.

Whereas the full quantity of Australian exports to China has held up, totaling $ 96 billion within the 12 months ending in February, it’s due to surging iron ore revenues. Exterior of our largest money cow, exports to China fell 29% over the identical interval – a drop equal to 1% of GDP.


The worth of Australia’s iron ore exports weathered commerce tensions with China

Supply: Australian Bureau of Statistics

New Zealand, alternatively, managed to keep away from such retaliation and in February upgraded its free commerce settlement with China. My colleague Jason Scott takes a better have a look at the completely different approaches taken by Wellington and Canberra and asks if any cracks within the alliance are rising.

Off grid

Storms or forest fires that minimize energy strains and disrupt provides are a nightmare for grids world wide. Western Australia has discovered an alternate: utterly eradicating distant purchasers from the community.

After Tropical Cyclone Seroja tore the state aside final week, destroying transmission strains and reducing off hundreds of houses and companies, six stand-alone energy techniques – principally arrays of photo voltaic panels related to batteries – have managed to outlive the wrath of the storm and maintain delivering juice. My colleague Rob Verdonck examines whether or not this marks the start of the tip for conventional poles and wires.

relates to Australia winning war on virus but at risk of losing vaccine race

The Bodallin Autonomous Energy System, Western Australia.

Western energy

What we learn

Some components from world wide that caught our consideration:

  • The center assault of an HSBC supervisor triggered a mirrored image on the work tradition to the purpose of abandonment. He tells us what he realized from his ordeal.
  • Indonesia is within the race to rescue 53 crew members from a submarine lacking earlier than their oxygen was depleted.
  • How Robinhood made buying and selling so exhausting to withstand.
  • TikTok has grow to be some of the in style apps on the earth. Here is a have a look at how firm executives decide what content material goes viral.
  • And no matter local weather change does to the world, cities might be hit the toughest. Discover real-world examples, from Melbourne to Manila.

The most effective in-depth reporting from Asia and past. Signal as much as obtain our weekly abstract delivered to your inbox.

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Logging business says China’s log exports stay in countless limbo in view of commerce dispute Thu, 22 Apr 2021 23:01:18 +0000

The Australian forestry sector says there are not any indicators of motion from Chinese language authorities to finish the present log commerce stalemate.

China suspended imports of all logs late final 12 months amid mounting commerce tensions.

Whereas spherical logs are nonetheless exported to some international locations from deep-water ports, the multi-million greenback log commerce with China stays in limbo.

Australian Forest Merchandise Affiliation chief government Ross Hampton mentioned there had been “no motion” since China banned imports of spherical logs from Australia.

“The Chinese language authorities has mentioned that there will probably be no accepted timber, nor spherical logs (as they name them within the commerce) outdoors any a part of Australia,” mentioned Hampton.

“So we needn’t have any additional updates on this example.”

Newspapers awaiting export at Port of Portland.(

Supplied: Pleasure Smith


Onshore wooden fiber processing potential

Because the business benefited from file demand for lumber as a result of housing building growth, he mentioned China’s log import ban was impacting the nation’s export markets. non-structural wooden and wooden fiber.

Given the lingering uncertainty, he mentioned larger nationwide transformation was wanted.

He mentioned all of the wooden fiber was wanted to discover a processing home, whether or not it was for bioenergy, manufacturing of panel, particle board, or pulp and paper.

Ship and logs at export port
Tons of logs lie on the dock for export to the Port of Portland. (

Supplied: Pleasure Smith


“We must be utilizing as a lot materials in Australia and creating Australian jobs as attainable,” mentioned Hampton.

“We now have a $ 2 billion commerce deficit in wooden merchandise yearly.

No newspapers in China

Port of Portland normal supervisor Greg Tremewen mentioned the established order remained.

“There isn’t a change to this finish concerning logs to China,” Mr. Tremewen mentioned.

Logs and a truck at an export port
Partaking with China on timber exports is “a precedence problem,” says the CEO of the Port of Portland.(

Supplied: Pleasure Smith


Federal Deputy Minister of Forests and Fisheries, Senator Jonathon Duniam, mentioned the federal government “continues to work with the Chinese language authorities as a matter of precedence.”

“We’re working with the business to make sure that all related biosafety necessities are met,” he mentioned.

“The federal government’s $ 72.7 million Agribusiness Growth Initiative (ABEI) helps Australian agribusiness firms diversify their exports, with new particular person assist providers for exporters, a greater entry to market info and matching grants for business associations and authorities to work collectively market enlargement. “

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How Australia’s trade with China became a political weapon – FOUR CORNER Monday Thu, 22 Apr 2021 22:00:00 +0000

In the past twelve months, China has launched a wave of trade sanctions against Australia.

Industry after industry has been hit with a series of punitive measures, ranging from massive new taxes to import restrictions.

As a result, many Australian products have been effectively banned from entering China, leaving businesses that depend on this trade in jeopardy.

“I have the impression that we are only a pawn in their political game.” Winemaker, South Australia

“We are all in survival mode. We are doing our best. That’s all we can do. Lobster fisherman, Tasmania

Monday Four corners investigating what lies behind China’s trade war with Australia.

“They strategically choose Australia where it has the least impact on their economy.” Grain farmer, WA

Australia’s call for an independent review of the causes of the COVID-19 outbreak in China is often cited as the trigger. But as Four corners demonstrates that this conflict is motivated by a much broader range of concerns.

“The intention is for China to change Australian policy iincluding on the South China Sea, Hong Kong, Xinjiang, Huawei and foreign interference issues. »Economist

Four corners reveals how trade sanctions appear to have been carefully programmed and targeted over and over again to cause maximum damage.

“Waiting until after… much of the Australian barley crop had been planted, was that strategic? I think so. Grain farmer, WA

Traveling from the barley fields of the salt lake country of WA to the lobster trawlers of Hobart, Four corners shows the human and financial cost of the ongoing conflict.

“The market actually fell to zero. We have to find a new home for $ 1.1 billion worth of wine. »Wine Industry Spokesperson, South Australia

“It’s terrible. I rent the boat, I have a crew to watch, we have three families who live off my family business and at the moment I don’t see a future for us. Lobster fisherman

Despite the challenges, some of those suffering the most say Australia has no choice but to stand firm.

“Unfortunately, I think about our democracy, our way of life, everything we care about in Australia. Whether it’s China or some other country, I think Australia has to defend itself. “Seafood processor

Poking the Dragon, reported by Stephen Long, airs Monday 26the April at 8:30 p.m.

It is replayed on Tuesday 27e April at 1:00 p.m. and Wednesday 28e at 11:20 p.m. It can also be seen on ABC NEWS on Saturdays at 8:10 p.m. AEST, ABC iview and to

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Farmers fear retaliation from China as Australia tears up Victoria’s Belt and Road deal Thu, 22 Apr 2021 06:56:41 +0000

Farmers are not convinced of a quick resolution of the trade dispute with China after the Commonwealth government tore up the Victoria Belt and Road agreement with Beijing.

Australia has been in a trade dispute with China for more than a year, with major agricultural exports such as barley, wine, meat, lobster and hay from the past month all affected.

There are fears that the latest move by the federal government may mean more restrictions will be placed on Australian exports to China.

“I think as far as the wine industry – whether it is the Victorian or Australian industry – it won’t make any difference … it can’t make it worse,” said Alister Purbrick of the Tahbilk winery. in central Victoria.

Mr. Purbrick lost a quarter of his business when Chinese authorities took anti-dumping action against Australia by accumulating tariffs of more than 200 percent on its wine imports into China.

“It hurts, there’s no doubt about it,” he said.

The family wine company is now trying to find wine already packaged for the Chinese market elsewhere in the world.

“I think there could be retaliation and that retaliation could relate to an industry that has not been affected so far,” Purbrick said.

Cabernet Sauvignon vines in China
Alister Purbrick of Tahbilk Winery in central Victoria lost a quarter of his business when Chinese authorities en masse imposed massive tariffs on wine imports. (

ABC News: Brant Cumming


Trade tensions are likely to ignite

Sydney University of Technology’s Australian Institute of China Relations director James Laurenceson said the Belt and Road Initiative (BRI) deal didn’t mean much, but the fallout would ignite tensions that had been calm in recent months.

“Let’s be clear, what was canceled was a non-legally binding agreement that committed the Victorian government to nothing, let alone the national government,” he said.

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China has been without excuse in its ambitions for greater global leadership through the BRI.

Professor Laurenceson said China had already imposed restrictions on “easy targets” and any further restrictions placed on other agricultural sectors by China would create major problems.

“There is no doubt that this is a real risk,” he said.

“You can imagine that a few industries could still be vulnerable, dairy products, and other measures the Chinese government could take with regard to beef.”

Barley conflict

The grain industry has also lost access to the Chinese barley market.

China was Australia’s largest export market for barley before the Beijing government imposed anti-dumping duties on Australian exports, ending the trade overnight.

Brett Hosking
Quambatook farmer Brett Hosking supports the government’s decision, but braces for the fallout.(

Provided: Istimewa


Brett Hosking is a farmer in Quambatook in Northwest Victoria and is President of Peak Body Grain Growers Limited.

He supports the federal government’s decision to tear up the BRI with China, but is bracing for the fallout.

“Having a single voice speaking on behalf of Australia is probably the way forward rather than multiple agreements across the country,” Hosking said.

“I understand the ambition, but that doesn’t mean it won’t cause hiccups along the way.”

The dispute between Australia and China over barley tariffs has been referred to the World Trade Organization (WTO).

On April 30, Australia will request the formation of a panel to determine whether the tariffs are fair.

Hosking believes ending the Victoria BRI deal won’t change the outcome of this dispute, but he will monitor the fate of other grain exports to China.

“As far as barley is concerned, the damage has already been done,” he said.

Foreign investment is drying up

Exporters are suspicious of what might be the next commodity to place on China’s trade cutting block.

But it is not only exports that will suffer.

China is a big investor in Australian agriculture and Professor Laurenceson has warned that these funds are drying up.

“There is no improvement on the horizon as far as I can see.”


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