On Tuesday, Australians would be wise to cast their eyes towards the National People’s Congress in Beijing. This year’s meeting – one-third each domestic political circus, economic engine room and global diplomatic sideshow – will be one of the most crucial in recent history as China grapples with a faltering economy and a political reset.

Chinese President Xi Jinping attends the Spring Festival celebrations at the Great Hall of the People in Beijing last month.Credit: Xinhua

However, while the outcomes of the congress will be fascinating, the real insights will have to come from reading between the lines. The tone of public discourse and official pronouncements will be uniformly upbeat. To paraphrase Eryk Bagshaw’s insightful analysis in the Herald today, the fix is in.

After a long period of unprecedented growth that has triggered a domestic real estate boom and helped fuel export booms in nations around the world, including Australia, the past 12 months have been challenging.

But three months ago, the Chinese Ministry of State Security said it had had enough of people talking the economy down.

It was time to change the message: China was turning a corner. And if anyone dared to put a counter view?

“We will crack down on and punish illegal and criminal activities that endanger national security in the economic security field in accordance with the law.”

Perhaps even more worrying than this order to ignore reality and stick to a fantasist line, Bagshaw writes that “President Xi Jinping’s security crackdown has been paired with an ideological campaign to bring the People’s Republic back to its socialist roots”.

After decades of embracing its unique mix of communist rule paired with capitalist pragmatism, China is now placing limits on foreign investment while it reinstates a centralisation of state power unmatched since the days of Mao Zedong.

QOSHE - Dual threat from China spells double trouble for Australia - The Herald&x27S View
menu_open
Columnists Actual . Favourites . Archive
We use cookies to provide some features and experiences in QOSHE

More information  .  Close
Aa Aa Aa
- A +

Dual threat from China spells double trouble for Australia

14 1
04.03.2024

On Tuesday, Australians would be wise to cast their eyes towards the National People’s Congress in Beijing. This year’s meeting – one-third each domestic political circus, economic engine room and global diplomatic sideshow – will be one of the most crucial in recent history as China grapples with a faltering economy and a political reset.

Chinese President Xi Jinping attends the Spring Festival celebrations at the Great Hall of the People in Beijing last month.Credit:........

© The Sydney Morning Herald


Get it on Google Play