Space Industry and Business News  
TRADE WARS
Australia accuses China of undermining world trade
by AFP Staff Writers
Sydney (AFP) Oct 21, 2021

Australia delivered a withering denunciation of China's trade policies Thursday, accusing Beijing of undermining the World Trade Organization and foot-dragging on promised economic reforms.

During a usually routine WTO review in Geneva, Canberra's representatives said China had benefited "significantly" from 20 years of WTO membership but was not keeping its end of the bargain.

In an unusually blunt statement made public after the meeting, Canberra insisted a slew of sanctions on Australian goods were politically motivated and showed a "growing gap between China's rhetoric and its actions".

In the last 18 months, China has imposed restrictions on a long list of Australian exports as political relations between the two countries have hit their lowest point in a generation.

"China has increasingly tested global trade rules and norms by engaging in practices that are inconsistent with its WTO commitments," the Australian government said in a statement.

"By undermining agreed trade rules China also undermines the multilateral trading system on which all WTO members rely."

Australian officials also revealed for the first time that the list -- barley, coal, copper ores, cotton, hay, logs, rock lobsters, sugar, wine, beef, citrus fruit, grains, and table grapes-- now includes dairy products and infant formula.

Experts see China's sanctions on Australia as a thinly veiled message to countries across the Pacific: that challenging Beijing politically will come with serious economic cost.

Canberra has long pushed back against China's efforts to assert influence in the region -- banning telecom tech titan Huawei from key contracts, questioning how the Covid-19 pandemic began, announcing a massive increase in military spending and curbing Chinese "influence operations" in Australia.

At the closed-door Geneva meeting, China reportedly vowed to accelerate efforts to open its markets and implement a "more proactive import policy".

But Australia insisted China's "market-oriented reforms have not progressed" in the last few years.

This December will mark 20 years since China joined the WTO, an event policymakers in Washington had hoped would bind China to Western-designed international institutions and spur political reform.

Two decades on, access to China's market remains tightly controlled, state-back-firms dominate many sectors of the economy and the Communist Party retains an iron grip on power.

President Xi Jinping -- who has instigated several crackdowns on potential adversaries -- is expected to be granted an unprecedented third five-year term as General Secretary at a key party meeting next year.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China vows to open up market, but US sees no change
Geneva (AFP) Oct 20, 2021
China on Wednesday promised the World Trade Organization it would further open its vast market, but the United States swiftly countered that Beijing showed "no inclination to change". Beijing made the pledges during a WTO review of China's trade practices, an exercise held behind closed doors that all 164 members of the global trade body undergo on a regular basis. In a report released by the WTO, China proposed to accelerate efforts to foster "a new development paradigm" - a strategy in which ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
In-Orbit cloud computing and storage platform successfully demonstrated

Simulating space on Earth: NASA receives hardware for testing satellite servicing tech

One in three young kids uses social media, use of parental controls spotty

French cloud computing IPO mints Europe's latest tech billionaire

TRADE WARS
Space Systems Command awards $46.5 million contract for meshONE-Terrestrial

Cesiumastro deploys active phased array experimental satellites

US Space Force to take over SATCOM operations from Army, Navy

Notre Dame to lead $25 million SpectrumX project; first NSF Spectrum Innovation Initiative Center

TRADE WARS
TRADE WARS
Thales Alenia Space to build prototype EGNOS ground station for ESA

Galileo ground control segment ready for full operational capability

France lops metre off Mont Blanc's official height

Enhanced BeiDou short message service displayed at int'l summit

TRADE WARS
Flying green will be more expensive

Fly more, pollute less -- the great aviation conundrum

Erdogan says talks under way with US to buy F-16s

Student experiments float over New Mexico

TRADE WARS
Micron plans $150 bn push on domestic chip manufacturing, research

Towards ultra-low-energy exciton electronics

Connecting the dots between material properties and qubit performance

New ergonomic photodetector for the trillion-sensor era

TRADE WARS
NASA Turns to the Cloud for Help With Next-Generation Earth Missions

First Copernicus satellite exceeds design working life

AAC Clyde Space to supply core avionics to Arctic weather satellite

NASA software helps weather forecasting around the globe

TRADE WARS
3M to pay $99 mn to settle dispute over harmful chemicals

Lausanne tackles toxic soil after shock discovery

US plans to tackle toxic, widespread 'PFAS' chemicals

Chemicals in plastic containers, cosmetics linked to risk for earlier death









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.