• By The Financial District

Australia Skeweres China For Flouting WTO Trade Rules

Australia has delivered a withering denunciation of China's trade policies, accusing Beijing of undermining the World Trade Organization (WTO), foot-dragging on promised economic reforms, and banning imports from countries that displease President Xi Jinping, the Agence France-Presse (AFP) reported.

Photo Insert: The 80% tariff on barley slapped by Beijing effectively ended the trade with Australia.

During a usually routine WTO review in Geneva, Canberra's representatives said China had benefited "significantly" from 20 years of WTO membership but was not keeping its end of the bargain.

In an unusually blunt statement made public after the meeting, Canberra insisted a slew of sanctions on Australian goods were politically motivated and showed a "growing gap between China's rhetoric and its actions."

In the last 18 months, China has imposed restrictions on a long list of Australian exports as political relations between the two countries have hit their lowest point in a generation.

"China has increasingly tested global trade rules and norms by engaging in practices that are inconsistent with its WTO commitments," the Australian government said in a statement.

"By undermining agreed trade rules China also undermines the multilateral trading system on which all WTO members rely."

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Australian officials also revealed for the first time that the list - barley, coal, copper ores, cotton, hay, logs, rock lobsters, sugar, wine, beef, citrus fruit, grains, and table grapes - now includes dairy products and infant formula.

Experts see China's sanctions on Australia as a thinly veiled message to countries across the Pacific: That challenging Beijing politically will come with serious economic cost.

Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

This December will mark 20 years since China joined the WTO, an event policymakers in Washington had hoped would bind China to Western-designed international institutions and spur political reform. Two decades on, access to China's market remains tightly controlled, state-back-firms dominate many sectors of the economy and the Communist Party retains an iron grip on power.

President Xi Jinping - who has instigated several crackdowns on potential adversaries - is expected to be granted an unprecedented third five-year term as General Secretary at a key party meeting next year.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic

Optimize asset flow management and real-time inventory visibility with RFID tracking devices and custom cloud solutions.
Sweetmat disinfection mat