US-China trade battle casts shadow over Asia’s 2019 growth – Asia Development Bank

27 Sep

C/O RT media news :-

Developing Asia is expected to lose steam as trade rows between Washington and Beijing drastically damage supply chains for businesses, dragging down the region’s export-reliant economies, the Asian Development Bank (ADB) says.

The Manila-based institution has lowered its 2019 growth forecast for both China and developing Asian nations by 0.1 percentage points, citing major risks posed to international trade and global financial markets by the country’s ongoing trade dispute with the US. A tightening in global liquidity is expected to have a negative impact on business activity through a potential rise in borrowing costs and higher risks of capital outflows, according to the ADB.

https://www.rt.com/business/439584-trade-war-asia-growth-adb/

RECAP! JO HOCKEY UNDER TONY ABBOTT GOVERNMENT GLEEFULLY SIGNED ONTO THE ASIA INFRUSTRUCTURE INVESTMENT  BANK! $930 Million!

http://www.abc.net.au/news/2015-06-29/australia-sixth-biggest-shareholder-in-new-china-investment-bank/6580682

Representatives from 50 countries, including Treasurer Joe Hockey, took part in a signing ceremony of the articles of agreement at the Great Hall of the People in Beijing.

China’s finance ministry said seven other countries that applied to join did not sign the agreement because they did not yet have domestic approval.

China is the largest shareholder in the bank, with a stake of 30.34 per cent.

Australia is the sixth largest, committing around $930 million over five years to finance infrastructure projects in Asia.

The private sector will also be involved.

Australia, the United States and Japan once shared concerns about the way the AIIB would be governed.

However Australia signaled its readiness to join the bank a few months ago.

In a statement the Treasurer’s office said: “All members will be directly involved in the direction and decision-making of the bank in an open and transparent manner”.

REPEAT AUSTRALIA WAS THE SIXTH LARGEST CONTRIBUTOR!!!

SO LETS GET THIS STRAIGHT THEY COULD PROVIDE ALMOST A BILLION DOLLAR FUND FOR A FOREIGN BANK BUT NOT NATIONALIZE OUR OWN BANK??!!

WHILST OUR CURRENT GOVERNMENT IS SETTING UP MORE PRESENCE IN PAPUA NEW GUINEA DUE TO CHINESE POSSIBLE THREAT IN THE SOUTH CHINA SEA! YOU CAN’T MAKE THIS SHIT UP!!!

source:  https://www.news.com.au/technology/innovation/military/australia-eyes-png-military-base-to-curb-chinas-pacific-influence/news-story/783aeac07cd711f953355fbc4b55381a?from=rss-basic

Australia eyes PNG military base to curb China’s Pacific influence

The significant move is seen as a way of curbing China’s enormous and growing influence in the region and to future-proof our defenses.

Manus, which is part of Papua New Guinea, is one of many recipients of China’s generosity, and increasing concern for many observers.

The Communist superpower has been splashing billions of dollars in the region, in an attempt to yield power and influence down the track. And as China ramps up its military spending to $224 billion per year and pushes ahead with a $1 trillion project to extend its global influence, Australia is planning to exert some influence of its own.

More info about the AIIB here https://www.scmp.com/topics/asian-infrastructure-investment-bank

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Our government has thrown the baby with the bath water and sold our Sovereign wealth to China also! No cries Wolf.. our Ports our farms housing mines universities Islands Utilities to name a few..all the while compromising our National security!!

All the while China laughs at how easy it was to subvert our leaders with bribes!!!

Whilst appearing to balance the books by selling everything!

lest we forget Tony’s opening speech after being elected on 

TONY Abbott has declared the nation “open for business” once again, vowing to lead a competent and trustworthy government for all Australians.

Sourced from The Australian

https://www.theaustralian.com.au/national-affairs/election-2013/abbott-claims-victory-and-says-australia-is-open-for-business/news-story/5fda5d73bca6f951332095ec8ec3bc36

IS THIS THE SORT OF GOVERNMENT  THE PEOPLE OF THIS COUNTRY WANT??!!

IT DOESN’T MATTER WHICH OF THE MAJORS ARE IN THEY WILL CONTINUE TO SELL OUR COUNTRY TO THE HIGHEST BIDDER UNTIL THERE’S NOTHING LEFT!