The Green Party and the dispute are considering whether to launch a Senate inquiry into an agreement amid fears it is an implicit approval of Beijing’s new Hong Kong national security law, which criminalizes actions that damage the Chinese state with a life sentence in prison.
The Chairman of the China Australia Business Council David Olsson said on Wednesday that “diversion of forced trade” from China would always be charged for business and, in addition, the public.
“We have to deal with the world as it is,” he said. “In the near and medium term, it is difficult to imagine how other markets can offer the same breadth and depth of opportunity to Australian exporters such as China.”
US steps follow weeks of increasing diplomatic tension over the political and commercial future of the semi-autonomous region.
Facebook, Zoom, Microsoft, Google said they would ignore data requests under the new law The New York Times announced on Wednesday it would move its digital news operation based in Hong Kong to Seoul. The Hong Kong-focused investment company HSBC and Swire Group signed before the law was passed after 15 months of protests over Beijing’s increasing influence rocking the city.
Four major banks, Macquarie Group, University of Wollongong, RMIT and hundreds of small businesses run by up to 100,000 Australian migrants all have a presence in the city and are ready to be affected by the economy from US capital that moves from the historic bridge between East and West.
Details of the US executive order, released for the first time on Wednesday afternoon, also indicate Fulbright’s educational scholarships will expire, exceptions for licenses to export to Hong Kong will be revoked, and Hong Kong police and those involved in cracking down on protesters will not be able to enter the United States. .
“Hong Kong will now be treated the same as mainland China,” Trump said.
Beijing has struggled to overcome the economic downturn from firm diplomacy in several fields after Britain officially announced Wednesday it would block Chinese telecommunications giant Huawei from participating in the 5G network and ordered all existing components to be removed by 2027 due to national security issues.
Australia banned Shenzhen companies in 2018 and the US has aggressively lobbied other countries to follow suit.
Huawei’s chief technology officer Paul Scanlan said on Wednesday that the decision was unfavorable.
“How else can we say it? Our company is trapped in geopolitical nonsense,” he said. “[Huawei founder] Ren [Zhengfei] said a year and a half ago that we were like little sesame seeds caught between two dinosaurs here. “
Eryk Bagshaw is a Chinese correspondent for The Sydney Morning Herald and The Age. Due to travel restrictions, he is currently based in Canberra.
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