Hedge Clippings | Friday, 28 August 2020

The choice between Sovereignty and Sovereigns

Australians politicians are for once united in their view regarding the importance of Sovereignty, with both Scott Morrison and Anthony Albanese supporting controls on governments at all levels, along with universities, from being subject to foreign (read Chinese) influence.

Inevitably, however, there are those who disagree, presumably not as much about the issue of sovereignty itself, but that any such stance is likely to have a severe effect on their future flows (to use an old term for pounds sterling) of sovereigns themselves. Or more accurately dollars, or currency of whatever denomination.

In other words, follow the money, honey. Or as Paul Keating said, "in the race of life, always back self-interest. At least you know it's trying".

Not surprisingly, given how leveraged his state is to China, and how little it is exposed to COVID, the WA Premier came out on the side of preferring the money, and to hell with the threat to Sovereignty.  

Meanwhile, his Victorian counterpart, Daniel Andrews, has a massive conflict of interest: His state is reeling, both in health, socially, and financially from COVID, made worse by an own goal while mismanaging Melbourne's hotel quarantine arrangements. But his conflict is even greater, courtesy of his secretive "Belt and Road" deal with China, which even the ABC took issue with in October last year, describing it thus:

"it is also designed to grow China's clout abroad by making countries economically dependent on Beijing, and has been written into the Communist Party's constitution as a sign of its importance.

China's Government is thrilled it can bypass Canberra by doing deals directly with a state government - and hopes more deals with other states could pressure the Federal Government to change its policy in future.

It would be unthinkable for a Chinese province to break ranks with Beijing on a major foreign policy issue like Victoria is doing, which also helps to explain the frustration of the Morrison Government having its diplomacy undermined."

If that was the case last year, imagine what the Morrison government thinks now - or maybe they now have the opportunity to act on those frustrations.

Undoubtedly the Morrison government standing up to China will significantly affect export and trade income, and thus cost Australian jobs. Today's announcement that another beef exporter has become a victim is likely to become part of a long list of retaliatory measures orchestrated by Beijing, joining four others, along with restrictions on Australian barley and wine previously announced.

So, the choice is commerce and money, or, in the longer term, our democratic way of life. This may seem melodramatic, but the Chinese Communist Government is certainly more concerned about influencing our sovereignty than how much it is going to cost them in sovereigns.

It's undoubtedly a tough call: Take a stand and the pain now, or leave it to another day, and another generation, when it will all be too late to reverse.

Depending on how much it hits one's hip pocket will probably determine your view. Those in WA such as Kerry Stokes and Andrew Forrest have probably already made their minds up.

From Hedge Clippings' perspective there could be a hidden benefit in China's stance on wine: will that leave more for Australian consumers, and/or drop the price? If so, maybe we'll vote with our hip pocket!
 

And now for something completely different: Meaning of American Pie by Don McLean

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