Australia–China partnership signed

Prime Ministers and key sub-leaders will meet annually

Australia – China partnership signed

Australia has become the first western country to sign a formal agreement which will see the prime ministers of both governments meeting annually. There will also be further meetings at sub-leadership level. Previously an Australian Government ambition, the partnership with China is believed to have been hastened by the change in China’s leadership last year.

The signing ceremony, which took place in the Great Hall of the People on Tiananmen Square, also formalised laws to start the direct trading of Australian dollars and Chinese Yuan, as previously the US Dollar was used as an intermediate in the transfers.

Cooperation and coordination of development aid by both nations into the AsiaPacific region was also agreed upon during the signing ceremony.

Two-way trade betweenAustraliaandChinahas topped $130 billion a year and there is hope that free trade talks withChinawill be opened again at the next meeting in May.

Read more from the ABC.

Read more from The Age.


Opinion: Our future stability secured in writing

I have been very critical of our Prime Minister during her second term in power, but the partnership between Australia and the world’s superpower China will provide greater stability for our nation.

With the largest population in the world, making up one in five people on Earth, China’s consumption and trade production power is unmatched. The key to the growth ofChinahas been the work of the financial leaders of the country who continue to manipulate the price of the Yuan to keep the exchange rate low so that they remain competitive. As we saw inAustralia, when the Australian dollar increased from around $0.85 to $1.00 with the American dollar, many industries, especially tourism, suffered from lower turnover.Chinais one of the largest buyers of Australian natural resources and the potential of a free trade agreement is tantalising.

The discussion around increasing military ties withChinais an interesting concept. It seems as though the agreement signed between the Australian PM and Chinese Premier for greater collaboration in delivering aid throughout the Asia Pacific region is the first (very small) step to tying Australia’s military closer to China’s.

I applaud Prime Minister Gillard and her ministry for signing such an important agreement for our nation’s.

Is this too little too late for a Federal Labor Party significantly behind in the polls, just six months out from the next election? 





    COMMENTS

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    Reppie
    11th Apr 2013
    10:43am
    Too little too late in my opinion. OK we need to have China onside, as our small population v their huge population alone could be a threat with us geographically close neighbours, as are a few other countries with huge populations, who's finances are going towards creating nuclear havoc etc. instead of feeding their population and educating their children adequately.

    Already, no matter where you go, everything it seems is made in China. I received a lovely surprise Christmas gift while in W.A. A Nikon camera (as a mad keen photographer of long standing, I love it). I noticed on the camera itself, is a "made in China"sticker. I mean Japanese camera, Nikon being the best camera producers for decades, now having their 16 megapic camera made in China!! Maybe they are all made there now? no idea here.

    Our local tourist attractions around the Ballina/Byron area all have souveniers all made in China also, which were, not so long ago all LOCAL art and craft. Very disappointing when I take my visitors to these places. It seems almost everything is Chinese these days, which is sad as we have a unique country, and it should always be represented by locally produced goods as well as imported.
    unicorn
    11th Apr 2013
    1:18pm
    It will be interesting to ask what Tony Abott's opinion is. He will probably say ir =t is something else he doesn't believe in.
    Reppie
    11th Apr 2013
    1:27pm
    lol agreed Unicorn - at least we know he won't say anything positive, he never does!!
    wally
    11th Apr 2013
    5:02pm
    We are told that things look good, but I'll reserve judgement until the fine details come out. I won't hold my breath until all is revealed, either. I just hope our government has gotten this one right as the consequences for failure are too horrible to contemplate.
    unicorn
    12th Apr 2013
    7:59am
    No Reppie usually doom & gloom if he says anything.


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