China Reflection
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China Reflection
Introduction,
I consider China and Australia to have one of the most substantial bilateral relationships in the world. The relationship spans all the way from before the 17th century. The two nations share a wide range of history between them. Though, one of the most significant interactions can be attributed to religion with Australian missionaries moving to China. The interaction between the two countries has evolved over time to both of them being highly dependent on each other economically. So nowadays, it’s even safe to say Australia depends on China, and China well, not really much on Australia (Sheng, 2016. p. 840)
China underwent one of the worst economic downfalls in history under the leadership of Mao Zedong, the major founder of the communist Peoples Republic of China. However, after the death of Mao in the year 1976, the growth of China’s economy has seen nothing but an upward trend. This was due to policies brought about by the Chinese Communist Party. Some of the policies were of capitalistic tendencies (Sheng, 2016. pp.840 – 860). This has led to China becoming one of the world’s largest economies in the world, if not the largest. This can be seen by its large industrial production, one of the highest GDPs in the world, and also vast technological advancement.
Australia, on the other hand, is also one of the world’s most developed countries. Its growth can be compared to that of the United States since both of them were as a result of the British government sending some of its wrongdoers to the two countries. Australia has also seen a major economic improvement over the years, despite having a large area that can’t be inhabited.
Australia and China’s economic relationship began in the 1980s, with both nations signing various bilateral deals. These deals have made china to be one of Australia’s largest export destinations, with Australia exporting mainly raw materials to the Asian country. These raw materials include Iron ores, gold, and other metals. The imports that come from China to Australia are usually manufactured products, which include computers, furniture, and other telecommunication devices. The list of goods exported and imported between the two countries can hardly be exhausted (Sheng, 2016. pp.840 – 860). This relationship however, has its gains and also risks.
However, as much as the trade relationship between the two countries is fruitful, I can’t help but notice that Australia’s economic survival relies majorly on China’s stability, which at the moment, to be honest, isn’t going that well. This means that if anything goes wrong in China, many Australian businesses in both countries will take a huge nosedive.
Similarly, another important aspect to consider in this is the diplomatic relationship between the two countries. Both countries have accused each other of various diplomatic offenses, including espionage and human rights abuses. The relationship between the two countries hasn’t been as smooth as expected over the years. This has led to various sanctions coming from both countries targeting each other. The most prominent one for me is the Chinese based company Huawei being banned from rolling out the 5G technology in Australia. Australian citizens in China have also been arrested and detained (Qi, and Zhang, 2018. pp. 1- 11).
China has also been accused of interfering with Australia’s political system. Although it’s fair to say, the Chinese Communist Party has invisibly wanted to interfere with the political stability of various countries around the globe. So, these accusations cannot be totally ruled out. China has also responded in its own right. An example is banning the Australian media service ABC (Australian Broadcasting Corporation). The countries have also come out to accuse each other of racism based on various legislative resolutions.
Conclusion,
In conclusion, I can say it’s time for Australia to look for long term solutions on how to rescue itself from the dependence of Chinese for its economic thrive. They look at other export destinations. Depending on a country such as China, in my opinion, is more or less falling into its modern era colonial trap. Just like many African countries. Australia is a very much developed country that has the skill and resources to switch its bilateral and multilateral ties to other countries that have a more genuine agenda for them and the world as a whole. Time for us to diversify our trade ties (Qi, and Zhang, 2018. pp. 1- 11).
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References,
Sheng, Y., Drysdale, P., and Chen, C., 2019. Economic Growth In China And Its Potential Impact On Australia–China Bilateral Trade: A Projection For 2025 Based On The Cage Analysis. The Singapore Economic Review, 64(04), pp.839-862.
Sheng, Y., 2016. Economic Growth in China and Its Potential Impact on Australia-China Bilateral Trade (No. 25642). East Asian Bureau of Economic Research.
Qi, C., and Zhang, J.X., 2018. The economic impacts of the China-Australia Free Trade Agreement-A general equilibrium analysis. China Economic Review, 47, pp.1-11.