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As for Australia I used to work for one of the big 4 Aussie banks in both London and Sydney. When Xi came to power and Belt & Road started, China could do no wrong and those with China ties soared. Australia's dilemma is that it has become so economically dependent on China. China average monthly imports from Oz are now $10bn a month. Add in China students and tourism in normal times and it's 10% of GDP. However, it seems to me that there is a growing sense of bipartisan spirit building over China. That things have gone too far and the politicians who are more pro-China are increasingly disparaged. Overall, I find it very hard to see any prospect of the situation improving. Five eyes becoming more vocal and China more nationalistic. Everyone would like China to compromise but Xi just doesn't have it in him. Moreover, he is afraid of being seen to weaken by others, especially his opponents.

Nov 20, 2020
at
2:45 PM