Dow Jones Stock Market Today – China to Suspend Economic Dialogue With Australia
BEIJING–China’s state planner said the government will “indefinitely suspend” all activities under the China-Australia Strategic Economic Dialogue, in the latest sign of deteriorating relations between the two countries.
The National Development and Reform Commission said the decision was made after Australian officials “launched a series of measures to disrupt the normal exchanges and cooperation” between the nations. These moves were made “out of Cold War mindset and ideological discrimination,” the NDRC said in a statement Thursday, without providing further details.
The Australian federal government last month canceled an infrastructure deal with China under Beijing’s Belt and Road Initiative amid concerns that the arrangement could pose a national-security risk.
The deal’s cancellation is viewed as deepening a diplomatic rift between the two countries, whose ties soured last year after Australia called for an investigation into the origins of the coronavirus, angering Beijing. China retaliated by placing higher tariffs on Australian imports and warning its citizens not to travel to Australia.
Launched in 2014, the strategic economic dialogue was attended by economic officials and business people from both countries. Beijing and Canberra also discussed the Belt and Road program in previous rounds of the dialogue, according to Chinese government statements and state media reports.
Write to Singapore Editors at [email protected]
(END) Dow Jones Newswires
May 06, 2021 00:01 ET (04:01 GMT)
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