SOURCE / ECONOMY
Analysts say nation could hit back hard against provocations
By GT staff reporters Published: Apr 22, 2021 09:23 PM
Jacaranda blossoms are seen near Sydney Opera House in Sydney, Australia, Oct. 22, 2020.(Photo: Xinhua)
Another downward spiral in China-Australia relationship serves as a fresh warning to the Chinese corporate sector that their businesses will not be hijacked by the deterioration of the tensions, industry insiders told the Global Times on Thursday.
Souring bilateral ties are already prompting Chinese businesses to think twice in their dealings with Australia, even in some of the most profitable areas, given the prospect of foreseeable trade decoupling between the two.
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China has threatened retaliation over the federal governmentâs decision to cancel Victoriaâs Belt and Road agreement as the move secured support across the political and security spectrums in Australia.
But senior Australian officials who were not authorised to speak on the record said Australia was prepared to wear Chinaâs response given how the nation had survived the past year of economic coercion.
In the first official comments from the Chinese government since Wednesday nightâs decision, Chinese Foreign Ministry spokesman Wang Wenbin said the move would deepen tensions between Canberra and Beijing. Australia is the first country to have scrapped a signed BRI agreement.
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SOURCE / COMPANIES
By Global Times Published: Apr 22, 2021 06:44 PM
A woman walks in the rain in Sydney, Australia, March 20, 2021. Photo: Xinhua
China s energy conglomerate Shenhua Energy Co s recent statement about its withdrawal from a project in Australia s New South Wales is another unfair treatment by Australia to discriminate Chinese businesses, experts said.
In the statement by Shenhua Energy Co on Wednesday, the firm said they had reached an agreement after consultation with the New South Wales (NSW) government to withdraw from the Watermark project development at Breeza, south of Gunnedah, marking an end of a 12-year project since the company obtained the right to explore the Watmark area in 2008.