China has threatened to bring economic carnage upon Australia in response to big defence spending announced in Tuesday s federal budget.
The government outlined a huge boost for the defence force, more funding for spies and help for exporters to find new markets in a massive push back against an increasingly assertive Beijing.
In response, Chinese newspaper the Global Times - a mouthpiece for the Communist Party government - has warned that Beijing will block more Australian exports after already banning a range of goods including barley, wine, beef and coal.
In an article titled Canberra s defence spending means more economic carnage , the publication warned Australia s natural gas exports could be next in the firing line.
The Federal Budget 2021-22: Technology wins
Technology goodies inside this year s Budget Credit: Victor Diola Jr Dreamstime
The 2021-22 Federal Budget has been released and it has a big technology focus, with the Government pledging nearly AU$1 billion as part of its Digital Economy Strategy. This funding includes spending for Artificial Intelligence (AI), the improvement of Australia’s digital connectivity, and for the development of digital skills for workers, to allow Australia to better compete with the rest of the world in key areas of the digital economy.
Boost to the Government’s Artificial Intelligence Action Plan
To boost the development of AI in business and to break down barriers to the AI industry, Treasurer Josh Frydenberg announced $124.1 million in funding for AI as part of the Government’s Artificial Intelligence Action Plan. Approximately $53.8 million of these funds will go towards setting up a National Artificial Intelligence Centre over the ne