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Bitcoin's rise raises questions about its role in US-China contest


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Even as bitcoin soars in price and enjoys a wider demand as an asset, Australian investors and analysts are divided over its longer-term implications for cryptocurrency on the world.
Sydney-based venture capitalist Mark Carnegie says that although bitcoin is flawed, cryptocurrency points to new possibilities for global finance that Australian policymakers ignore at their peril.
“China understands that this is their weapon to replace the US dollar as the world’s reserve currency,” says Carnegie, of M.H Carnegie & Co. “And Australia is ignoring the whole issue.”
No fan of bitcoin: China’s central bank, the People’s Bank of China. ....

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China-Australia relations: could the past year's antagonism become the new normal?


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China-Australia relations: could the past year’s antagonism become the new normal?
John Power
Australian Prime Minister Scott Morrison, left, with President Xi Jinping of China during the G20 summit in Osaka, Japan, has stressed his openness to dialogue to resolve tensions with Beijing. Photo: Australian Prime Minister s Office
For China-Australia relations, 2020 was the year things went from bad to worse - and worse again. The prevailing mood suggests 2021 may not be much brighter.
Although Australian Prime Minister Scott Morrison has stressed his openness to dialogue for resolving tensions, few observers see a diplomatic breakthrough on the horizon as Canberra and Beijing show no sign of budging on what appear to be increasingly non-negotiable differences. ....

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Covering the Covid shock on The Interpreter in 2020


A virus of overlapping consequences (7C0/Flickr)
Published
24 Dec 2020 06:00  
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From the first days in January this year, the question that dominated the outbreak was how upfront Beijing had been about the novel coronavirus that became known as Covid-19. Richard McGregor:
So far, the handling of the crisis seems to have underlined one of the ongoing problems with the authoritarian strictures of the party-state, which places a premium on the control of information in the name of maintaining stability … Could the virus have been contained, and its spread limited, if officials in Wuhan had levelled with both their bosses, and the public, earlier? It is impossible to say, but at the moment, it certainly looks that way. ....

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