China has suspended the Strategic Economic Dialogue Deal with Australia. The decision was made in connection with the "current position" of the authorities of this country, the State Committee for Development and Reform of the PRC said on Thursday, May 6.
Beijing accused the authorities in Canberra of "cold war mentality" and "ideological discrimination" and announced an indefinite freeze on all activities under the agreement.
In April, the Scott Morrison government announced that it had canceled the agreement concluded by the Australian state of Victoria with the PRC under the Chinese Belt and Road Initiative, also referred to as the New Silk Road. This initiative does not correspond to the country's foreign policy interests, the Australian prime minister said.
On May 3, Australian authorities also announced a review and possible termination of the lease by Chinese companies of a strategically important port in Darwin in the north of the country.
New Silk Road project
As part of the large-scale infrastructure project "New Silk Road", China intends to invest billions of dollars in the development of foreign ports, highways and railways, telecommunications networks and airports. The result should be new economic and trade routes leading from China to the EU, Africa and Latin America, as well as modern trade routes in the Asian region itself.
Critics of this project, including representatives of the United States, a number of EU countries and Australia, fear a further increase in the geopolitical influence of the PRC. They also point to a lack of transparency and what they see as unfair competition conditions.
