Because Beijing invests little in Australia
What happens between China and Australia? The article by Giuseppe Gagliano
Chinese investments in Australia fell by more than 61% in 2020, according to new data from the report entitled Chinese Investment in Australia Database ( Chiia ) published by the Australian National University.
CHINESE INVESTMENTS IN AUSTRALIA FALL
On the other hand, in 2019 there had already been a decline of 47% in 2019. Returning to 2020, the Australian report pointed out that just over 1 billion dollars of investments were made in 2020 with a decrease compared to 2.6 billion. dollars of the previous year and certainly well below the investments in 2016 which had even reached 16 billion dollars.
Also according to the Australian report in 2020 86% of Chinese investments in Australia came from Chinese companies already present in Australia.
NOT ONLY THE FAULT OF COVID …
This extremely significant decline is not only the consequence of the effects of the Covid pandemic but above all it is determined by the profound reorientation that has characterized Australian foreign policy towards Chinese investments and which we have discussed several times on these pages .
THE VETO OF CANBERRA ON MANY CHINESE PROJECTS FOR AUSTRALIAN COMPANIES
An explicit confirmation in this direction comes from an absolutely authoritative source: on March 1, in fact, the spokesman for the Ministry of Foreign Affairs of China, Wang Wenbin, emphasized the fact that in 2020 China's foreign direct investments increased by 3, 3% but those towards Australia had a collapse as a result of the attitude of the Australian side. In fact, in recent years, Australia has repeatedly "abused" the national security excuse to veto many investment projects of various Chinese companies in Australia. For Wang, these political choices have resulted in "unreasonable" restrictions on international trade.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/perche-pechino-investe-poco-in-australia/ on Wed, 03 Mar 2021 09:01:55 +0000.