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China Says Australia Has Cold War Mindset , Suspends Economic Dialogue on May 06 2021 9:54 PM Relations between China and Australia have been peppered with spy scandals and trade rows in recent months / AFP China has suspended on Thursday activities under the China-Australia Strategic Economic Dialogue, adding tension to already strained relations between the two countries. In a statement, China s National Development and Reform Commission (NDRC) accused Australia of having a “Cold War mindset.” 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 NDRC said, Reuters noted. ....
Share on Twitter China has formally suspended all contact falling under a key economic forum with Australia as relations between the countries strain even further. The move officially cuts off the China-Australia Strategic Economic Dialogue, with China blaming ideological discrimination on the part of the Australian government. Finance Minister Simon Birmingham has downplayed the significance of the decision, saying Beijing hasn t engaged with Australia through the framework since 2017. Senator Birmingham described China s refusal to participate in the discussions as regrettable and questioned why they had decided to now announce the suspension in talks. This has been a position that they have held and frankly just continue right now and it’s disappointing because the best way to work through differences is through dialogue, he told SBS News. ....
May 6, 2021 07:46 GMTFXStreet News AUD/JPY erases partial daily gains in the Asian session. Aussie suffers quick losses after China announces indefinite suspension of economic dialogue with Australia. Risk aversion underpins the demand for yen. The Aussie depreciates against its rivals and book some quick losses in the Asian session. The cross peaked at 84.82 before returning to session lows at 84.24, albeit recovering swiftly above 84.50. At the time of writing, AUD/JPY is trading at 84.53, down 0.08% on the day. A Chinese top economic planner decided to suspend all China-Australia strategic economic partnership dialogue. The move is a response to some Australian Commonwealth Government official’s actions, in relation to disrupting the normal exchanges and cooperation between China and Australia, as reported by the National Development & Reform Commission (NDRC) of China. ....
The commission did not say in the statement what specific measures prompted the action. The Australian dollar fell sharply on the news, and was as low as 0.7701 to the U.S. dollar from Wednesday’s $0.7747. Bilateral ties were strained in 2018 when Australia became the first country to publicly ban Chinese tech giant Huawei from its 5G network. Relations worsened last year when Australia called for an independent investigation into the origins of the novel coronavirus, prompting trade reprisals from China. Australian Trade Minister Dan Tehan said the decision by the commission was “disappointing” because the economic dialog was “an important forum for Australia and China to work through issues relevant to our economic partnership.” ....