No early end to China trade tensions, says new ASPI paper

SYDNEY - A new paper released by the Australian Strategic Policy Institute (ASPI) argues that there is little prospect of Australia 'waiting out' the current US-China economic dispute.

Titled "The End of Chimerica: The passing of global economic consensus and the rise of US-China strategic technological competition," the paper argues that Australia has been slow or else reluctant to accept that the previous global economic consensus of free and open trade (especially with China) being an unmitigated good is over.

"Chinese economic and trade malpractices over a long period of time are having profound distorting effects on the global economic system and US dissatisfaction is deepening and irreversible," the paper says.

"Advanced economies such as the EU and Japan share identical concerns.

. "We can help shape and improve elements of a US-led collective effort to impose carrots and sticks on China to persuade the latter to play by the rules or sit and wait for a world which has already passed."

The paper was written by Professor John Lee, a Non-Resident Senior Fellow at the United States Studies Centre at the University of Sydney and a Senior Fellow at the Hudson Institute in Washington D.C.

It was produced in partnership with the United States Studies Centre at the University of Sydney.  www.aspi.org.au (ATI).