• November 28, 2021

China uses trade as a ‘weapon’ – POLITICO

LONDON – China is using trade as a “weapon” and Britain and its allies must halt sales of technology to the Asian powerhouse and redirect essential supply chains away from it, former Australian Prime Minister Tony said on Tuesday. Abbott.

“The Beijing government sees trade as a strategic weapon that can be turned on and off, like a faucet,” said Abbott, an adviser to the UK Board of Trade, during a keynote address on strategic trade. Policy Exchange.

Australia, he noted, is being punished for prohibitive fees in its exports as came, beef and hay in a growing trade war for its reluctance to play with China’s geopolitical interests.

China, Abbott said, “is aggressively asserting itself in what is, at best, a cold peace and, more likely, a new Cold War.” He called China a strategic competitor “much more formidable than the former Soviet Union” because it is embedded in the global economy.

The Chinese state firm Nexperia’s purchase of the Welsh computer chip firm Newport Wafer Fab “would not take place if it happened in Australia,” he said. The UK is now investigating the sale after British lawmakers raised concerns about possible technology transfers.

Abbott also called on British and Australian allies to conduct post-pandemic national supply chain audits and use public procurement to “maintain a manufacturing base sophisticated enough to produce essential goods.”

Pressured after the speech on whether she agrees with her adviser, UK Trade Secretary Liz Truss said Britain and its allies should “challenge” China’s “unfair” trade practices at the World Trade Organization and “Expand trade between like-minded allies.”

This article is part of POLITICALPro Trade premium policy service. From transatlantic trade wars to the UK’s future trade relationship with the EU and the rest of the world, Pro Trade gives you the information you need to plan your next move. Email [email protected] for a free trial.

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