Australian officials have sounded the alarm about rising debt levels and economic “fragility” among Pacific countries amid increasing competition with China for influence. On Tuesday the Australian government will publish the first update of its international development policy in a decade, with a focus on the Pacific, south-east Asia and south Asia. The policy is not backed by any new foreign aid funding, but the government wants to use “blended finance” tools to encourage the private sector to lend money, especially for climate-related projects in south-east Asia. The government will…
Tag: Penny Wong
China agrees to scrap barley tariffs in easing of trade tensions with Australia
China has agreed to scrap its 80% tariffs on Australian barley, in a major win for Canberra’s push to ease trade barriers between the two countries. The tariffs were first imposed in 2020 at the height of tensions, and prompted a lengthy challenge by Australia through the World Trade Organization. In a notice on its website published on Friday, China’s commerce ministry announced that “in view of the changes in the market situation of barley in China” it was “no longer necessary to continue to impose anti-dumping duties and countervailing…
Australia news live: Philip Lowe reportedly to be replaced as RBA governor; Wong meets top Chinese diplomat
<gu-island name="KeyEventsCarousel" deferuntil="visible" props="{"keyEvents":[{"id":"64b067568f08df2847003b8c","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" The Reserve Bank governor Philip Lowe will reportedly be replaced when his seven-year contract concludes in mid-September, according to the ABC. ","elementId":"449618a1-4dac-41f8-89a6-8ee101ef6d71"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" An announcement from treasurer Jim Chalmers is expected to follow today’s cabinet meeting, when the topic of Lowe’s replacement will be discussed. ","elementId":"50b6d4b9-5044-401e-970b-55fcaa10010f"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" Guardian Australia has not yet been able to confirm this. We will bring you updates as they come. ","elementId":"1b8f1abd-e9b3-4fa3-a690-4bf8f7709bdb"},{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" In the meantime, here is more on what the future may look like for the Australian economy, the RBA and Lowe, from…
China delays decision on Australian barley tariffs in setback on resolving trade disputes
China has asked for an extra month to decide whether to scrap hefty tariffs on Australian barley, dashing hopes of an imminent breakthrough in one of the biggest trade disputes between the two countries. The Albanese government said it was disappointed by the delay, and warned that it was ready to revive its case at the global trade umpire, the World Trade Organization (WTO), if Beijing doesn’t scrap the measure by August. A failure to reach a deal would also be a setback for Australian wine exporters, because the government…
Albanese urged to cancel China trip as Hong Kong vows to pursue exiled democracy activists ‘for life’
The Coalition has urged the prime minister, Anthony Albanese, to reconsider plans to travel to China after Hong Kong authorities vowed to pursue exiled democracy advocates “for life”. The Labor government has also warned that it would not tolerate any foreign interference on Australian soil as it promised to protect the principle of free speech, but China’s foreign ministry said western countries should “stop providing a safe haven for fugitives”. Two people based in Australia are among eight pro-democracy advocates named by Hong Kong police as being wanted for alleged…
Paul Keating sent explosive email to Labor cabinet two hours before attack on Aukus, FOI documents reveal
At 10.45am on Wednesday 15 March, an explosive email landed in the inboxes of all of Anthony Albanese’s cabinet ministers. “Dear cabinet colleagues,” wrote Paul Keating, Labor luminary turned chief Aukus critic. “My views will not please the prime minister, the foreign minister nor the defence minister but the country is entitled to a rationale for such a radical and dangerous policy.” The purpose of the email was to forewarn ministers that he would be tipping a bucket on them – and the nuclear-powered submarine plan they had endorsed –…
Australia ‘diminished’: Penny Wong’s frenetic mission to repair regional ties
A year ago, Penny Wong claimed the Coalition had “dropped the ball” in the Pacific. Now, as she marks one year as foreign affairs minister, Wong says Australia’s relationships across the region were in an even worse state than she initially believed. “The previous government did diminish Australia’s influence in the region – and the extent of that was greater than I had anticipated,” Wong says in an interview. That’s something she has been trying to rectify through extensive travel across the Pacific and south-east Asia, intended to make a…
Australia rethinks ‘quiet diplomacy’ tactic as Cheng Lei marks 1,000 days in Chinese detention
The Australian government is rethinking how to help citizens embroiled in “hostage diplomacy” as it marks the 1,000th day of the journalist Cheng Lei’s detention in China. The foreign affairs minister, Penny Wong, called for Cheng to be reunited with her children, saying the government shared “the deep concerns of her family and friends about the ongoing delays in her case”. Cheng remains in limbo after the verdict in a closed national security trial was delayed multiple times. Tuesday will be her 1,000th day in detention in China. The Department…
Penny Wong and Paul Keating spar as minister warns against ‘frenzied’ Taiwan war speculation
Penny Wong has warned politicians and media against playing “the most dangerous of parlour games” by adding to “frenzied” speculation about a war over Taiwan. The Australian foreign affairs minister said on Monday that such a conflict would be “catastrophic for all” and there would be “no real winners” – but the warning was quickly overshadowed by a fresh war of words with Paul Keating. Wong hit back at the former Labor prime minister, who ridiculed the minister for “running around the Pacific islands with a lei around [her] neck…
Australian winemakers hopeful of breakthrough on $1.2bn China trade but still plan to diversify markets
Australian wine producers hope Beijing could soon remove tariffs that slashed the $1.2bn trade by 99% – but say they are wary about relying too heavily on the Chinese market. After the Australian government announced a deal with China that could lead to the scrapping of tariffs on barley within months, wine producers also expressed cautious optimism. The chief executive of Australian Grape and Wine, Lee McLean, said he hoped China’s promised review of the barley tariffs went well and could serve as a template for removing the imposts on…