Business

Australia accuses China of undermining world trade

Canberra slams Beijing for reaping benefits of WTO membership while breaking promises

Updated 4 years ago · Published on 21 Oct 2021 7:00PM

Australia accuses China of undermining world trade
As bilateral relations cratered, China slapped restrictions on a long list of Australian exports. – Pixabay pic, October 21, 2021

SYDNEY – Australia delivered a withering denunciation of China's trade policies today, 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. – AFP, October 21, 2021

Related News

Malaysia / 1d

Billionaire numbers reach record high as wealth remains concentrated

Malaysia / 5d

Anwar backs One China policy, says Beijing can pursue reunification

Malaysia / 6d

Disturbed woman at KLIA taken to hospital, had forgotten to take medication

Malaysia / 6d

Woman, believed to be foreigner, allegedly causes disturbance at KLIA (video)

Malaysia / 4w

12 officers, police personnel arrested in RM2 million extortion case

Malaysia / 1mth

Kedah MB’s “Cina ada China, India ada India” remark draws criticism over citizenship narrative

Spotlight

Malaysia

Tuanku Muhriz urges Malaysians to uphold Rukun Negara, strengthen unity

Malaysia

PM to bring Felda forensic audit proposal to Cabinet

Malaysia

Malaysia tightens Thailand border security after wave of southern attacks

Malaysia

Mohd Amar’s three-year remark puts PAS’ Kelantan record under spotlight

Malaysia

KPF’s Al-Rawda exposure raises fresh questions over RM119.38 million

By Alfian Z.M. Tahir

Trump’s North Korea gamble deepens Asia’s doubts over US alliances

Malaysia

Rayer denies involvement in 'Maha Kali Red Rally', claims name and photo misused

Business

Nation’s economic outlook strengthens as leading index signals continued growth

You may be interested

Business

Oil prices hold near US$85 as US-Iran tensions keep hormuz risks in focus

Business

Oil prices pull back after rally as markets brace for tougher Iran sanctions

Business

K8 cargo: Businessman seeks clarification from MOF, Customs, Petronas

Business

Nation’s economic outlook strengthens as leading index signals continued growth

Business

Matrix Concepts records RM416.7m in 1Q27 sales as geographic diversification gains traction