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China suspends economic dialogue mechanism with Australia as relations curdle
FILE PHOTO: Australian flag flutters in front of the Great Hall of the People during a welcoming ceremony for Australian Prime Minister Malcolm Turnbull (not in picture) in Beijing, China, April 14, 2016. REUTERS/Jason Lee reuters tickers
This content was published on May 6, 2021 - 05:54
May 6, 2021 - 05:54
BEIJING (Reuters) - China indefinitely suspended on Thursday all activity under a China-Australia Strategic Economic Dialogue, its state economic planner said, the latest setback for their strained relations. Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of Cold War mindset and ideological discrimination, China s National Development and Reform Commission (NDRC) said in a short statement on the decision.
Beijing is freezing trade talks that were last held in 2017 in an apparent tit-for-tat response to Canberra. Australia said the decision was "disappointing."
China has vowed to “indefinitely” suspend all projects in Australia related to the Strategic Economic Dialogue as diplomatic tensions with the Communist superpower reach an “all-time low”.
Beijing made the announcement from its state-controlled National Development and Reform Commission.
“Recently, some Australian Commonwealth Government officials launched a series of measures to disrupt the normal exchanges and cooperation between China and Australia out of cold war mindset and ideological discrimination,” the Chinese government said in the statement.
China also suggested the decision was made due to “the current attitude of the Australian Commonwealth Government toward China-Australia cooperation”.
Worsening diplomatic tensions with China have dramatically impacted Australia’s international trade in several key industries.
In China’s propaganda mouthpiece newspaper, The Global Times, it described the relationship with Australia as being at an all-time low.
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Iron ore price tops $200 amid further deterioration of China-Australia relations
Worker repair mechanical parts in the production workshop in Tangshan city, Hebei Province, China (Stock Image)
Iron ore prices jumped to a fresh high on Thursday after China “indefinitely” suspended all activity under a China-Australia Strategic Economic Dialogue, in the latest setback to the strained relations between Beijing and Canberra.
Benchmark 62% Fe fines imported into Northern China (CFR Qingdao) hit a new high on Thursday, changing hands for $201.88 a tonne, up 4.85% from the previous day, according to Fastmarkets MB. The high-grade Brazilian index (65% Fe fines) also advanced to a record high of $234.70 a tonne.