China Ministry of Foreign Affairs spokesman Wang Wenbin has called the suspension necessary, as well as that Australia has misused the concept of national security to pressure China.
Symbolic picture
China Suspends Economic Dialogue With Australia: Diplomatic relations between China and Australia are steadily deteriorating, in which China has suspended indefinitely the economic negotiations with Australia (China Australia Dispute). This decision has been taken on Thursday. Relations between the two countries have been deteriorating ever since China raised demands for an investigation into the origin of the corona virus and prevented Chinese company Khwabe from building the 5G network. Along with this, China has also made many serious allegations against Australia.
China’s National Development and Reform Commission (NDRC) has issued a statement on the verdict accusing Australia of ‘cold war mentality’ and its ideological discrimination. But the commission did not say what has inspired this action (China Australia News). China’s Foreign Ministry spokesman Wang Wenbin has called the suspension necessary, as well as that Australia has misused the concept of national security to pressure China.
Fall in australian dollar
The Australian dollar has seen a sharp decline since this news, which was $ 0.7747 against the US dollar on Wednesday, and rose to 0.7701 on Thursday (China Australia Belt and Road). Australian Finance Minister Dan Tehan described the commission’s decision as disappointing, saying that economic negotiations are ‘an important forum for both China and Australia, where issues related to economic partnership are dealt with. We are still ready for talks and the ministerial minister is also ready to talk.
Talks were held in 2017
The last discussion on this was in 2017, when the Australian Finance Minister signed an agreement on cooperation on belt and road projects in third party countries. However, Australia has been dismissive of its involvement in the Chinese foreign policy project (China Australia Belt and Road). In April itself, Canberra also canceled two projects related to the Belt and Road project. China also banned liquor and beef coming from Australia under economic sanctions.
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