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Foreign Min Travels To China As Diplomatic Thaw Gets Underway
Australian Foreign Minister Senator Penny Wong travels to China today for meetings with her counterpart there Wang Yi. This will mark the first trip to China for an Australian foreign minister since 2018, and is seen as a continuation of the thaw in diplomatic relations that have been frozen for some years as China and Australia engaged in a war of words and escalating economic barriers.
- Latika Bourke at the Sydney Morning Herald: "New govt has a softer tone but hasn't shifted an inch on substantive policy. [...] China's MFA spokey hoping the visit will set bilateral relations back on the 'right track.'
(first meaningful change would be China lifting trade sanctions imposed after the WHO inquiry calls by Aust govt). Statement from PM [Anthony Albanese] and [Wong] confirming visit: 'Australia seeks a stable relationship with China; we will cooperate where we can, disagree where we must and engage in the national interest.' Interesting. Australia's Trade Minister Don Farrell says they are not expecting China to lift trade sanctions after first meeting in five years between the two countries' foreign ministers." - The foreign ministers have met on two separate occasions on the sidelines of international meetings, setting up the November meeting between Chinese Pres. Xi Jinping and PM Albanese on the sidelines of the G20 in Bali, Indonesia.
- The main objective of this meeting for Australia, rather than the removal of trade barriers so soon, is likely to be the establishment of regular dialogues on policy and trade in an effort to foster the thaw and avoid escalation.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.