SOURCE / ECONOMY
China won't buckle to so-called 'economic coercion' by Australia: Foreign Ministry
Published: Sep 07, 2021 09:13 PM
China Australia Illustration: Liu Rui/GT

China Australia Illustration: Liu Rui/GT


China has never done anything that undermines Australia's sovereignty, and China definitely won't buckle to so-called economic coercion, Foreign Ministry Spokesperson Wang Wenbin said on Tuesday. 

On the contrary, Australia has taken measures that violate market principles and has even bullied China, and it has imposed unreasonable restrictions on normal exchanges and cooperation between the two countries, which has interfered with the sound development momentum of China-Australia pragmatic cooperation, Wang said.  

His remarks came after Australia media reported that Treasurer Josh Frydenberg said Australia must see off a growing strategic "threat" from China by defending its values while diversifying its economy and Australia has underlined its plan to tackle China's "economic coercion".

Frydenberg said Australia is on the frontline of the new battleground, and Australia must see off a growing strategic "threat" from China by defending its values while diversifying its economy, according to a report by www.smh.com.au on Sunday. 

The difficulty in China-Australia relations was entirely caused by Australia, Wang said, adding that Australia also formed gangs to put pressure on China, violated international law and the basic norms of international relations, grossly interfered in China's internal affairs, and harmed China's core interests.

The most urgent task is for Australia to face up to the crux of the frustration of bilateral relations, discard its cold war mentality and ideological prejudice, respect basic facts, treat China and China's development objectively and routinely, and earnestly uphold it, Wang noted. 

"Australia may benefit greatly from cooperation with China, and it is a beneficiary of China's development," Wang added. 

Despite fraught bilateral ties, China's trade with Australia rose by 39.9 percent year-on-year to $152 billion from January to August, accelerating from the 34.2-percent growth rate recorded in the first seven months, Chinese customs statistics showed on Tuesday.

China's exports to Australia rose by 27 percent to $40 billion, compared with 26.5 percent growth in the first seven months.

China's imports from Australia rose by 45.3 percent to $112 billion, compared with 37.4 percent in the first seven months.

The rise in China's imports from Australia reflected China's increasing imports of iron ore, which surged during the first half of the year, said Zhou Fangyin, a professor at the Guangdong Research Institute for International Strategies.

Global Times


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