As Australia-China relations plummeted to new lows in 2020, fractious debates about the causes – and possible solutions – reached new highs. There are at least five issues that are likely to remain contentious in 2021 and beyond. First, while there is no doubt that the Australian economy is highly dependent on China, there is … more
1. Xi’s China and law There are two terms used frequently in discussions of law in China. The first is fazhi (法制), referring to the legal system. The second is fazhi (法治), meaning “rule by law”. Note that the romanisation of these two Chinese terms is the same. We are concerned here with the second … more
1. Strategic vision and Xi’s timescape Xi Jinping proclaimed that China has entered a “new development stage” (新发展阶段) in a speech to the Party’s top cadres on January 11. This speech deserves our attention because this is the first time a top Chinese leader has articulated this new concept. So what is this “new development … more
The signing of the Regional Comprehensive Economic Partnership represents a setback for U.S. trade leadership and a significant win for China. While the historic free trade agreement that will add US$500 billion to world trade by 2030 is often inaccurately deemed “China-led,” it nonetheless strengthens China’s position in the Asia-Pacific. China will use the RCEP … more
1. EU-China Comprehensive Agreement on Investment The EU-China Comprehensive Agreement on Investment (CAI) has finally concluded. The agreement provides increased market access for EU companies in China, and includes rules on areas such as state-owned enterprises, subsidies, technology transfer, and labour standards. Like the recently concluded Regional Comprehensive Economic Partnership, the Agreement came after almost … more
This week’s topics: Politburo meeting, overseas lending, detained Chinese journalist 1. Politburo Meeting Friday’s Politburo meeting readout (Chinese | English) mentioned three items: economic policy work for 2021, plans for anti-corruption work for 2021, and rules for elections in local Party organisations. According to the readout, the Politburo assesses that 2020 has been a good … more
Mutually beneficial trade links may appear tempting to use as political leverage in theory, but there are a number of reasons why the reality of attempting to put theory into practice is more complicated. Recent events in the Australia-China context make for a salient case study of why this is the case. Deep economic complementarities … more
The competition to implement a sovereign digital currency is in full swing with central banks around the world investigating its feasibility. A digital currency may solve some challenges relating to economic and financial inclusion, but it also has the potential to change the shape of global financial markets. China is well ahead of the pack … more
As China’s influence in the Middle East rises, few countries in the region, including majority Muslim ones, have spoken out against Beijing’s repressive policies against Uyghur Muslims in Xinjiang. China’s ambitious Belt and Road Initiative (BRI) projects in the region may be an important part of the reason. China’s BRI involves 138-countries with an upward … more
This week’s topics: Hong Kong, monopoly regulation, ASEAN, foreign interference 1. Beijing ousts opposition legislators in HK The Standing Committee of the National People’s Congress, China’s top legislative body, passed a resolution on Wednesday, mandating the immediate disqualification of Hong Kong’s Legislative Council members who: advocates or supports the cause of “Hong Kong independence” … more
