Economy

Markets

Industries

Insights

Reports

Events

Economy 'binds Sydney, Beijing'

By Li Xiaokun and Peng Kuang (China Daily)
Updated: 2009-05-27 07:36

The Australian ambassador's statement that Sydney does not think of Beijing as an "emerging threat" may well be true and not just a diplomatic comment, given the country's economic dependence on China, experts said yesterday.

"It's hard to imagine Australia thinking of China as a threat considering the business cooperation between the two sides," said Shen Dingli, executive dean of the Institute of International Studies at Shanghai-based Fudan University.

Shen said Sydney, however, did show "signs of fear" toward the emerging China for its surging military power.

"What they fear is not China today, but tomorrow's China. They're worried that we might turn aggressive as some countries did after becoming world powers."

"China should stick to peaceful development, and continue developing democracy, which will politically assure these countries of Beijing's commitment to peace."

Peng Guangqian, a Beijing-based senior military strategist, said Australia's close economic relations with China were bound to go a long way, as the former has become a hub for Chinese immigrants.

Besides, the two nations also share huge common interests in regional security, he said.

Related readings:  China not a threat: Australia  Australia best placed to survive recession: survey  Australia clears Minmetals plan to buy OZ  Chinese firms face hurdles in Australia

According to the May 20 issue of Shanghai's Xinmin Weekly, a recent Australia-China Business Trade report found that trade with China brings an average profit of A$3,000 ($2,325) to every Australian household annually.

"The future of the Australian economy depends on China. Its recovery will likely be triggered by China's recovery," the magazine said.

Secret treaty details of the Australian government's plan to expand uranium exports to China, which the Australian foreign minister accidentally revealed at the parliament earlier this month, revealed Sydney's thoughts, it said.

"Why would Australia sell uranium to China, the key material used in atom bombs, if it really saw Beijing as a threat?" it said.