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The Forum > Article Comments > Let's keep the rhetoric away from Sino-Australian relations > Comments

Let's keep the rhetoric away from Sino-Australian relations : Comments

By Jieh-Yung Lo, published 29/8/2012

Tony Abbott's recent China trip has proven that political rhetoric must be put aside when it comes to dealing with Australia's biggest trading partner

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Your admiration of China's banking system isn't universal, Arjay.

"Chinese Premier Wen Jiabao told a national audience on Tuesday that China's state-controlled banks are a "monopoly" that must be broken up"

http://online.wsj.com/article/SB10001424052702304750404577321762422668428.html

Any thoughts on why he may have said that?

Oh, he explains it himself...

"Let me be frank. Our banks earn profit too easily. Why? Because a small number of large banks have a monopoly"

Oh dear.

And you are kidding yourself about China's debt situation. It is actually worse than ours here in Australia.

http://www.indexmundi.com/china/public_debt.html

Although not quite as bad as Brazil.

Seriously. Do you plan do do any research at all?

Ever?
Posted by Pericles, Thursday, 30 August 2012 6:35:32 PM
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I'll help you get started, Arjay… Here is an example of one of the representatives of the Western Oligarchs demonising China since 2008:

"Hillary Clinton presses China to keep buying US debt" by Bill Van Auken

…"Clinton added, "We are truly going to rise or fall together. By continuing to support American treasury instruments, the Chinese are recognizing our interconnection."...

Any implied demonising seems to be in the other direction… "at a joint press conference the day before, China's foreign minister, Yang Jiechi, dodged a question as to whether Beijing would continue buying the US notes, saying only that China would seek safe, high-value and liquid investments for its foreign currency reserves…"

"Meanwhile, with some 26 million migrant workers having lost their jobs and 670,000 businesses having shut down because of collapsing export markets for Chinese-made electronics, toys, apparel and other consumer items, there is growing unrest and increasing popular demand that the money be spent at home to alleviate deepening social misery.

China has launched its own $600 billion stimulus package which it must pay for under conditions of sharply decreased tax revenues.

While an 8.8 percent economic growth rate is needed just to generate sufficient jobs for the 24 million new workers who enter the Chinese labor market each year, latest forecasts for 2009 project 5.5 percent growth or worse - down from 11.9 percent in 2007."

Now I know the article is from February 25, 2009 – but it is from the website you keep referring other people to, globalresearch. It's not my fault if it's the most recent one dealing with these topics.

By the way, where do you think China's foreign currency reserves come from?
Posted by WmTrevor, Thursday, 30 August 2012 8:14:29 PM
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Mr. Lo writes: "In my view, the complicated relationship between China and Australia also has a knock-on effect to the Australian Chinese community. Invariably, some may get caught between allegiance to their adopted home and loyalty to the motherland."

It is clear from Mr. Lo's comments that many "overseas Chinese" in Australia have no intention of assimilating into mainstream Australian society. Rather, their loyalty is firmly to "the motherland", as Mr. Lo calls it, and will continue to remain so. This raises serious national security questions for Australia, and calls into question the wisdom of allowing the buildup of such a large, non-assimilating community within our borders.

As R.M. Pearce has noted:

"... the acceptance of large numbers of ethnic Chinese... may present security difficulties in future decades. China, despite its claimed heritage of civilisation, has proved to be most uncivilised in fact. The Chinese have behaved barbarously in terms of liquidating many millions for real or spurious political reasons and in systematic forced abortions. It is not clear how far Chinese territorial ambitions extend or to what extent the Chinese will come to regard themselves as entitled to prescribe policies for South-East Asian countries. Further, the presence of a large Chinese minority in Australia might be perceived by Communist China or a successor as a reason for interfering in Australian affairs. These are serious matters, and should not be disregarded at the behest of political correctness."

http://www.nationalobserver.net/1999_spring_br5.htm

Australians have every reason to be concerned about the growing Chinese influence over Australia.
Posted by drab, Monday, 3 September 2012 5:40:41 AM
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