Ten months ago China warned Australia it must choose a new daddy -
AUSTRALIA must find a ''godfather'' to protect it and cannot juggle its relationships with the US and China indefinitely, according to a prominent Chinese defence strategist.
The warning by Song Xiaojun, a former People's Liberation Army senior officer, comes after the Foreign Affairs Minister, Bob Carr, was told by his opposite number that Australia's close military alliance with the US was an outdated throwback to the Cold War era - an issue raised in two other meetings with senior Chinese officials.
Senator Carr yesterday met with the man expected to become China's next premier, Li Keqiang, in the closely-guarded Zhongnanhai leadership compound in Beijing.
''Australia has to find a godfather sooner or later,'' Mr Song told the Herald yesterday. ''Australia always has to depend on somebody else, whether it is to be the 'son' of the US or 'son' of China."
Today PM Gillard announced Australia had chosen the People's Republic of China to be its daddy:
BUSINESS groups and economists have welcomed the prospect of direct convertibility of the Australian dollar and Chinese yuan, which would cut foreign exchange costs and bolster Australia's growing trade with China.
The Coalition also said yesterday it supported a proposal by Julia Gillard, revealed in The Weekend Australian, to secure the currency deal with the Chinese.
The Prime Minister is expected to put forward the plan, to make the Australian dollar and Chinese yuan freely convertible, when she visits China this weekend, an outcome that would save Australian and Chinese businesses from having to deal in US dollars or Japanese yen when trading with each other.
smart move by Australia to sign-on while it's still optional
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 1:35 pm
by _sabotage_
If you were Australia, would you really tie yourself completely to the US dollar after what happened in 2008, or diversify?
Besides, isn't this what the US has been calling for? China will be floating its currency. It will gain on the dollar and do away with that evil trade imbalance. We can go back to producing at home! Best hope not everyone bails on the dollar too quickly, but with China floating, isostasy demands others sink.
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 1:43 pm
by saxitoxin
_sabotage_ wrote:If you were Australia, would you really tie yourself completely to the US dollar after what happened in 2008, or diversify?
I just said it was a smart move by Australia!
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 1:47 pm
by _sabotage_
saxitoxin wrote:I just said it was a smart move by Australia!
... in terms of military threat, instead of financial stability...
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 1:56 pm
by saxitoxin
_sabotage_ wrote:
saxitoxin wrote:I just said it was a smart move by Australia!
... in terms of military threat, instead of financial stability...
OK, is this better?
smart move by Australia to sign-on while it's still optional
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 2:21 pm
by TA1LGUNN3R
The warning by Song Xiaojun, a former People's Liberation Army senior officer, comes after the Foreign Affairs Minister, Bob Carr, was told by his opposite number that Australia's close military alliance with the US was an outdated throwback to the Cold War era -...
ha. I'm fairly certain that posing this question as a large power (China) to a lesser power (Australia) to choose which of the two great powers' ideologies to back is itself a 'throwback to the Cold War.'
-TG
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 10:50 pm
by notyou2
If they join China won't the shipping costs become far less due to their new proximity?
Re: Australia Chooses a New Daddy
Posted: Sun Mar 31, 2013 11:09 pm
by saxitoxin
Of course, one thing Australia may want to remember is what happened to the last 2 countries that announced they were going to stop trading in U.S. dollars ...
Re: Australia Chooses a New Daddy
Posted: Mon Apr 01, 2013 2:32 am
by BigBallinStalin
saxitoxin wrote:Of course, one thing Australia may want to remember is what happened to the last 2 countries that announced they were going to stop trading in U.S. dollars ...
Oh yeah, tough guy? Which two were that?
Re: Australia Chooses a New Daddy
Posted: Mon Apr 01, 2013 3:34 am
by saxitoxin
BigBallinStalin wrote:
saxitoxin wrote:Of course, one thing Australia may want to remember is what happened to the last 2 countries that announced they were going to stop trading in U.S. dollars ...
Oh yeah, tough guy? Which two were that?
Hint ... one starts with a "L," the other starts with an "I."
(not Luxembourg and the Iroquois Nation)
Re: Australia Chooses a New Daddy
Posted: Mon Apr 01, 2013 4:11 am
by Dukasaur
I'm glad it was resolved. Custody battles are very damaging to the psyche.
Re: Australia Chooses a New Daddy
Posted: Mon Apr 01, 2013 8:40 am
by BigBallinStalin
saxitoxin wrote:
BigBallinStalin wrote:
saxitoxin wrote:Of course, one thing Australia may want to remember is what happened to the last 2 countries that announced they were going to stop trading in U.S. dollars ...
Oh yeah, tough guy? Which two were that?
Hint ... one starts with a "L," the other starts with an "I."
(not Luxembourg and the Iroquois Nation)
Luxemburg and Illinois?
Re: Australia Chooses a New Daddy
Posted: Mon Apr 01, 2013 2:19 pm
by notyou2
BigBallinStalin wrote:
saxitoxin wrote:
BigBallinStalin wrote:
saxitoxin wrote:Of course, one thing Australia may want to remember is what happened to the last 2 countries that announced they were going to stop trading in U.S. dollars ...
Oh yeah, tough guy? Which two were that?
Hint ... one starts with a "L," the other starts with an "I."
Posted: Sun Mar 31, 2013 1:15 pm