Chinese Economics Thread

[Litebreeze]

Hi Litebreeze,

I never see China this angry before, Australia had really irk China and the relationship will never be back to normalization even if Australia repent. Here's my reason , the anger emerge from the Chinese own feeling of betrayal, It's like in a romantic relationship when your feeling is being stamped upon. Instead of a amicable separation, you're being embarrass by your former lover at the behest of your rival. At the same time she deman8ded a compensation.....LOL.

I think China had learn a hard lesson that the 5 eyes and others in the Anglosphere world will never choose her over the US( that is why there is a hesitate in the promise aid to the Philippine). The American demand total obedience, being neutral is out of the question, either your in or a regime change is your answer. This new cold war is a Civilization war, it fitted the OLD vs the NEW. China only solution is self development or had to eventually create a bloc itself. The China, Russia and Iran axis is good way to start. The BRI initiative is a way to make that happen.

Hi ansy
There are a lot of things happen behind the screen. As for OZ, it's been warned many times before, yet Scomo didn't get it and didn't know when to stop. Then this whole messy thing happens. There seems pretty much reports, writings, opinions from Australians who seem to know better on the matter than Scomo. Let's see if their voices prevail.

As for China's iron ore import from OZ 2019, is about 665million ton. The mine in Congo is estimated 500million ton, that would cut the dependency on OZ iron ore significantly. There are 15 major countries exporting iron ore to China, looks like those countries will have the portion cut off from OZ share. From last year import of iron ore data, China imported over 1 billion ton, the Congo's mine alone covers almost half that quantity. It's gonna be a turbulence in oz economy.

 

[BlackWindMnt]

On Twitter I have seen Think Tankies having meltdown over this. Wailing that EU should discuss with Biden first before signing lol. Talk about Strategic Autonomies™.

P.S. Why do a lot of "China watchers" Think tankies are super annoying?! They act as if the world are theirs.

Because they have been telling everybody how the whole world hates China and wants to decouple from China

 

[B.I.B.]

Hi ansy
There are a lot of things happen behind the screen. As for OZ, it's been warned many times before, yet Scomo didn't get it and didn't know when to stop. Then this whole messy thing happens. There seems pretty much reports, writings, opinions from Australians who seem to know better on the matter than Scomo. Let's see if their voices prevail.

As for China's iron ore import from OZ 2019, is about 665million ton. The mine in Congo is estimated 500million ton, that would cut the dependency on OZ iron ore significantly. There are 15 major countries exporting iron ore to China, looks like those countries will have the portion cut off from OZ share. From last year import of iron ore data, China imported over 1 billion ton, the Congo's mine alone covers almost half that quantity. It's gonna be a turbulence in oz economy.

Australia still has the advantage of closer proximity, higher quality ore, and a stable government.

 

[antiterror13]

Other than American and malcontent Uyghurs say so, have they ever proven slave labour is used in Xinjiang?

nope, big no

 

[B.I.B.]

Hi ansy
There are a lot of things happen behind the screen. As for OZ, it's been warned many times before, yet Scomo didn't get it and didn't know when to stop. Then this whole messy thing happens. There seems pretty much reports, writings, opinions from Australians who seem to know better on the matter than Scomo. Let's see if their voices prevail.

As for China's iron ore import from OZ 2019, is about 665million ton. The mine in Congo is estimated 500million ton, that would cut the dependency on OZ iron ore significantly. There are 15 major countries exporting iron ore to China, looks like those countries will have the portion cut off from OZ share. From last year import of iron ore data, China imported over 1 billion ton, the Congo's mine alone covers almost half that quantity. It's gonna be a turbulence in oz economy.

huh? The Congolese deposits are less than what Australia sells to China in a year. Putting it in another way Australia has about a third of the worlds reserves in iron ore at over 52 billion tons and the Congo est. deposits only amount to 500 million tons.

 

[weig2000]

Hi Litebreeze,

I never see China this angry before, Australia had really irk China and the relationship will never be back to normalization even if Australia repent. Here's my reason , the anger emerge from the Chinese own feeling of betrayal, It's like in a romantic relationship when your feeling is being stamped upon. Instead of a amicable separation, you're being embarrass by your former lover at the behest of your rival. At the same time she demanded a compensation.....LOL.

I think China had learn a hard lesson that the 5 eyes and others in the Anglosphere world will never choose her over the US( that is why there is a hesitate in the promise aid to the Philippine). The American demand total obedience, being neutral is out of the question, either your in or a regime change is your answer. This new cold war is a Civilization war, it fitted the OLD vs the NEW. China only solution is self development or had to eventually create a bloc itself. The China, Russia and Iran axis is good way to start. The BRI initiative is a way to make that happen.

I wouldn't characterize the country-to-country relationship in romantic terms. Countries have national interests. Australia has natural tendency to align with Anglosphere, which is understandable. But what they have done in the last couple of years to China is fundamentally against their own national interest. They are and should be punished by China. I don't think China has ever expected Australia to be pro-China, instead just to be a normal and friendly country to conduct business with. For that matter, I don't expect China to turn hostile towards Australia forever. They'll just incur enough damage to Australia, or to kill a chicken to scare the money, to borrow a Chinese phrase.

It'll take some time before the two countries to come back to a more normal relationship. Australia cannot expect that everything will be forgotten and be back to normal just because Scott Morrison has now praised the success of China's poverty alleviation program. They would have to show their sincerity and make amends. In the long term, it'll be in both countries' interest to have a friendly and normal relationship. Australia is not yet a mature and psychologically independent country. They still consider themselves an appendage to the motherlands of UK or the US, forever worrying to be abandoned.

 

[bajingan]

Australia still has the advantage of closer proximity, higher quality ore, and a stable government.

And those advantages will dissappear very quickly in this new cold war as aus government does not have an independent foreign policy
If the us orders australia to cut off iron ore export to China, they will do it without hesitation

 

[MrCrazyBoyRavi]

Where is apple making its iCar ? USA/China or India ?

 

[gadgetcool5]

Where is apple making its iCar ? USA/China or India ?

Are those the only 2 options? Maybe it will make it in Vietnam, or elsewhere in SEA.

 

[Litebreeze]

huh? The Congolese deposits are less than what Australia sells to China in a year. Putting it in another way Australia has about a third of the worlds reserves in iron ore at over 52 billion tons and the Congo est. deposits only amount to 500 million tons.

I was referring to the quantity that China needs. In 2019 China imported 665million tons from OZ. Assuming this year amount to more or less that number, substitute that amount with Congolese ore of 500million tons, that's a huge hit for OZ. Russia, Mongolia, Malaysia, Iran etc will be happy to get whatever portion being cut off from OZ. Russia and Mongolia will be even closer geographically to China, just backyard. Not sure about the quality of the ore tho. But the amount of iron ore that China needs won't be harmed as some voices in OZ were talking about using iron ore as leverage. Moreover, with that much iron ore in hand, where would OZ sells it? Could it possibly driving the price down as in the case with their coal. OZ is said to sell coal 60% cheaper comparing to Canada and US after the banned.