China on its knees in war against Australia with a economy 1/10th its size and population 1/50th as many without firing a shot

[tanwahtiu]

Really???? How come??

Dramatic turn in China trade war as Australia fires back in scathing letter​

Australia has fired back at China in a scathing new letter about its trade sanctions. Photo: Getty
Matthew Elmas
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The trade war between China and Australia has taken a dramatic turn, with Canberra using a routine World Trade Organisation review to slam the world’s most populous nation for “undermining” global trade rules with “arbitrary” sanctions.
In a scathing letter published on Wednesday night (AEDT), Australia said China’s crushing trade restrictions were inconsistent with its pledge to open up to unrestricted global trade over the past two decades.
The letter shows Australia is ratcheting up pressure on China through the WTO, but experts said the move is unlikely to influence Chinese policymaking.

“Over the past 18 months, China has increasingly implemented trade disruptive measures targeting a wide range of Australian products,” reads the letter published by Australia’s WTO ambassador George Mina.
“These include increased and arbitrary border testing and inspections; unwarranted delays in listing and re-listing export establishments, issuing import licences and other restrictions.
“Such measures have severely limited or ended Australia’s trade with China across more than a dozen commodities.”

Australia loses billions to trade war​

The Australian economy has lost billions of dollars of exports to China after the nation slapped restrictions on barley, coal, cotton, hay, logs, meat, rock lobsters and wine in response to a list of 14 grievances with Canberra.
They include Australia’s criticism of China’s human rights record, Canberra’s call for an independent investigation into the origins of COVID-19, and the decision to ban China-owned telecommunications giant Huawei from Australia’s 5G rollout.
But because Australia’s largest export to China – iron ore – was not restricted, trade surpluses with China have actually increased over the past 18 months.
But that is now changing as China’s demand for iron ore has fallen over the past three months.
The price of iron ore has fallen from more than $US213 ($289) a tonne to less than $US125 ($165) over that time frame, as China has cracked down on steel mill production to reduce carbon emissions.

It means China’s trade restrictions are now having a larger effect on the Australian economy as iron ore exports are struggling to offset falls in other categories.
One silver lining is that China has started letting Australian coal ships into the country, amid a global shortage of the commodity that has seen prices hit record highs.
But coal is a much smaller export category than iron ore and is still being hit with trade restrictions.

Australia ratchets up pressure​

Against this backdrop, the Australian government is trying to ratchet up pressure on China to reverse its restrictions through the WTO’s appeal process.
The latest letter during a routine review of China’s trade policies at the WTO was an unusual escalation of tensions as such reviews are usually uncontroversial.
The meetings normally cover technical details about trade and relations with key partners.
University of New South Wales law professor Heng Wang said the trade reviews typically don’t cover disputes.
“The WTO dispute settlement is supposed to address trade disputes if a member is not happy with the situation,” Professor Wang told The New Daily.
But Australia turned up the temperature a notch with its scathing letter.
“There are credible reports that Chinese authorities have instructed importers not to purchase certain Australian products, contrary to WTO rules,” Australia’s letter read.
“By undermining agreed trade rules China also undermines the multilateral trading system on which all WTO members rely,” it said.
Last month, the WTO responded to Australia’s complaints by establishing a panel to consider China’s import restrictions.
The disputes were listed on the WTO’s dispute resolution agenda earlier this week, but the organisation is yet to set a date for delivering its verdict.
Melbourne Law School professor Tania Voon said efforts to take China to task at the WTO have a good chance of being successful.
“The dispute settlement system is an effective way of bringing them into conformity,” Professor Voon told The New Daily.
“Unsuccessful respondents usually do so, even if it sometimes takes a long time.”
But both Professor Voon and Professor Wang said the WTO’s appeals process can also be dysfunctional.
“The WTO dispute settlement system does face challenges,” Professor Wang said.
“The WTO rules have not been upgraded to address new issues in trade practices … it is not easy to address the Australia-China trade tension.”

CIA cronies... write for CIA

 

[tanwahtiu]

Just speed things up and stop exporting food to China. CNY 2022 will be fun.

CIA cronies... write for CIA

 

[tanwahtiu]

Hey losers CIA cronies...

 

[tanwahtiu]

Really???? How come??

Dramatic turn in China trade war as Australia fires back in scathing letter​

Australia has fired back at China in a scathing new letter about its trade sanctions. Photo: Getty
Matthew Elmas
SHARE

The trade war between China and Australia has taken a dramatic turn, with Canberra using a routine World Trade Organisation review to slam the world’s most populous nation for “undermining” global trade rules with “arbitrary” sanctions.
In a scathing letter published on Wednesday night (AEDT), Australia said China’s crushing trade restrictions were inconsistent with its pledge to open up to unrestricted global trade over the past two decades.
The letter shows Australia is ratcheting up pressure on China through the WTO, but experts said the move is unlikely to influence Chinese policymaking.

“Over the past 18 months, China has increasingly implemented trade disruptive measures targeting a wide range of Australian products,” reads the letter published by Australia’s WTO ambassador George Mina.
“These include increased and arbitrary border testing and inspections; unwarranted delays in listing and re-listing export establishments, issuing import licences and other restrictions.
“Such measures have severely limited or ended Australia’s trade with China across more than a dozen commodities.”

Australia loses billions to trade war​

The Australian economy has lost billions of dollars of exports to China after the nation slapped restrictions on barley, coal, cotton, hay, logs, meat, rock lobsters and wine in response to a list of 14 grievances with Canberra.
They include Australia’s criticism of China’s human rights record, Canberra’s call for an independent investigation into the origins of COVID-19, and the decision to ban China-owned telecommunications giant Huawei from Australia’s 5G rollout.
But because Australia’s largest export to China – iron ore – was not restricted, trade surpluses with China have actually increased over the past 18 months.
But that is now changing as China’s demand for iron ore has fallen over the past three months.
The price of iron ore has fallen from more than $US213 ($289) a tonne to less than $US125 ($165) over that time frame, as China has cracked down on steel mill production to reduce carbon emissions.

It means China’s trade restrictions are now having a larger effect on the Australian economy as iron ore exports are struggling to offset falls in other categories.
One silver lining is that China has started letting Australian coal ships into the country, amid a global shortage of the commodity that has seen prices hit record highs.
But coal is a much smaller export category than iron ore and is still being hit with trade restrictions.

Australia ratchets up pressure​

Against this backdrop, the Australian government is trying to ratchet up pressure on China to reverse its restrictions through the WTO’s appeal process.
The latest letter during a routine review of China’s trade policies at the WTO was an unusual escalation of tensions as such reviews are usually uncontroversial.
The meetings normally cover technical details about trade and relations with key partners.
University of New South Wales law professor Heng Wang said the trade reviews typically don’t cover disputes.
“The WTO dispute settlement is supposed to address trade disputes if a member is not happy with the situation,” Professor Wang told The New Daily.
But Australia turned up the temperature a notch with its scathing letter.
“There are credible reports that Chinese authorities have instructed importers not to purchase certain Australian products, contrary to WTO rules,” Australia’s letter read.
“By undermining agreed trade rules China also undermines the multilateral trading system on which all WTO members rely,” it said.
Last month, the WTO responded to Australia’s complaints by establishing a panel to consider China’s import restrictions.
The disputes were listed on the WTO’s dispute resolution agenda earlier this week, but the organisation is yet to set a date for delivering its verdict.
Melbourne Law School professor Tania Voon said efforts to take China to task at the WTO have a good chance of being successful.
“The dispute settlement system is an effective way of bringing them into conformity,” Professor Voon told The New Daily.
“Unsuccessful respondents usually do so, even if it sometimes takes a long time.”
But both Professor Voon and Professor Wang said the WTO’s appeals process can also be dysfunctional.
“The WTO dispute settlement system does face challenges,” Professor Wang said.
“The WTO rules have not been upgraded to address new issues in trade practices … it is not easy to address the Australia-China trade tension.”

Australia has only 3 hours of firing power in a war with other countries or China... Pathetic better not waste time go kill themselves a better option.... and let enemy walk over...

 

[Hypocrite-The]

CIA cronies... write for CIA

But CIA is working for chicon land

 

[tanwahtiu]

But CIA is working for chicon land

China international Airport... dumbwit.

 

[cocobobo]

I need to be there when it collapses to grab a slice of the pie and be a chinese oligarch.

 

[winners]

All these problems created by China can be resolved by assassinating Winnie. He knows that he's in a precarious situation now and that is why he hasn't left China for the last 700 days because he fears that by doing so, his regime may get replaced by his vast amount of political enemies if he's away. He may even end up as a fugitive like Thaksin, but for a very different reason.

 

[Hypocrite-The]

Hope this brings down the ChiCons


https://www.news.com.au/finance/bus...ws-story/72fc53daedd943672268a77fe7d54b48?amp

 

[syed putra]

China has one problem. Winnie the pooh. Get rid of him and all will be well again.

 

[Majulah]

I suppose china will have to pay for the cost of ship being held up in ports waiting to discharge their cargo.

do the ships owners accept porks and pigs as a payment substitute ?

 

[syed putra]

do the ships owners accept porks and pigs as a payment substitute ?

Only if it looks like a chinese whore where it can be monetized in middle east and Africa,

 

[Hypocrite-The]

I really wonder of the coal shortage n energy issues is fake news...