The World Health Organisation has today called for urgent action to ramp up the supply of Covid-19 vaccines, echoing the growing concern of many commentators observing the divergence between what developed countries are doing, and what we know must be done, to avoid prolonging the pandemic and increasing the cost to the global economy. In the article below, in the context of Italy’s decision this week to refuse an export licence for vaccines destined for
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Nigeria’s Ngozi Okonjo-Iweala’s anticipated appointment to head the World Trade Organization has been confirmed. Dr Okonjo-Iweala becomes the first woman and first African to take on the role. She is committed to pursuing reform of the troubled organisation.
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A well-told lie is worth a thousand facts. And the debt-trap narrative is just that: a lie, and a powerful one. The Sri Lankan port of Hambantota is not an example of China’s strategic use of debt. With a new administration in Washington, the truth about the widely, perhaps willfully, misunderstood case of Hambantota Port is long overdue.
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European Union and China leaders agreed a business investment deal on Wednesday, 30 December 2020, the Comprehensive Agreement on Investment. The EU hopes the deal will give European companies greater access to Chinese markets, and helping redress what Europe sees as unbalanced economic ties with China.
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It will become increasingly the case that if Australia doesn’t address the demands of the next economy, its prosperity, and therefore its security, will decline. In this context the development of an Australian clean steel industry using green hydrogen, proposed by ASPI’s Michael Shoebridge, looks enticing. But is it feasible of itself, let alone as part of decoupling from China’s economy? Or is it a distraction from the real economic and security issues facing Australia?
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There are many commentators with strong and legitimate concerns about China. The relationship between Australia and China is a very important one and it warrants being debated openly and vigorously. But when those with privileged access to the public square confuse name calling and assertion with rational argument, it is important to point this out. The recent ABC article As Australia’s relationship with China deteriorates beyond repair, we need to find new trade partners is a case in point.
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Chatham House’s Bill Hayton looks at the UK’s ’tilt’ to the Indo-Pacific – involving trade, military presence and diplomatic efforts, concluding that the overall effect is likely to embed the UK in the Indo-Pacific as a valuable partner for those countries which value a free and open international order.
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As market-based economic globalisation gives way to a system of state relations based largely on strategic capitalism, the Australian government seems to be using an outdated operating system. The demise of the multi-lateral, rules-based and open world will pose problems that demand imagination, innovation and deft and agile policy and diplomacy. In this environment Australia has a difficult course to chart.
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The first high-level dialogue between China and Japan since Yoshihide Suga succeeded Shinzo Abe as Japan’s Prime Minister in September have taken place in Tpkyo, with China’s Foreign Minister Wang Yi and his Japanese counterpart, Toshimitsu Motegi discussing maritime tensions over disputed islands in the East China Sea, trade and the Covid-19 pandemic response.
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On Monday [16 November 2020], US President-elect Joe Biden said that the United States needed to negotiate with allies to set global trading rules to counter China’s growing influence – but declined to say whether the US would join the 15-country Regional Comprehensive Economic Partnership agreement, the new trade pact that includes China, which was signed in Hanoi on Sunday [15 November 2020].
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The Regional Comprehensive Economic Partnership (RECP) agreement: Fifteen Asia-Pacific economies have signed what could become the world’s largest free trade agreement, covering nearly a third of the global population and about 30% of its global gross domestic product.
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Australia hopes the trade deal about to be signed by 15 Asia-Pacific economies will help improve Australia’s strained relations with China. Australia’s Trade Minister Simon Birmingham said that the trade pact offers a platform that can lead to a positive change in relations. “The ball is very much in China’s court to come to the table for that dialogue,” he is reported to have said.
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It is reported that the world’s largest trade pact involving 15 countries in the Asia Pacific – which account for 29% of global gross domestic product – is expected to be signed during a virtual leaders summit to be held on 15 November 2020.
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Diplomatic relations have never been worse with China, the destination of half of Australia’s exports. John West reviews the new book, China’s Grand Strategy and Australia’s Future in the New Global Order, in which Geoff Raby provides hard-hitting analysis and sharp proposals for getting this crucial relationship back on track.
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