Trade agreement between Australia and China up in the air
It seemed like a great partnership: the cooperation between Australia and China as trading partners. But now Australia wants out from its agreements with China on the New Silk Road, the international transport network that has allowed China to gain foothold in many places. China may now be introducing countermeasures. According to Casper de Vries, H.J Witteveen Chair of Monetary Economics at Erasmus School of Economics, China’s reaction is quite understandable, he says at BNR news radio.
According to De Vries, the relationship between China and the West was already not great. De Vries also shows understanding for China's position: 'In the past we also exploited China, so it is understandable that it now wants to adopt an independent position. But the way it does that, the political way, creates a lot of tension between Europe, America and China.' It is simply a difficult situation, he concludes. All parties are very much looking for the tools they have to be able to exert influence. But in certain areas they have to work together. Western countries are now looking at where they want to cooperate with China, and where they draw their boundaries.