Australia must see off a growing strategic threat from China by defending its values while diversifying its economy, Treasurer Josh Frydenberg will declare on Monday in a major speech urging business to prepare for new tensions with the rising superpower
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Treasurer Josh Frydenberg: “Australia will always choose partnerships ahead of conflict, wherever we can.”“Australia will always choose partnerships ahead of conflict, wherever we can,” Mr Frydenberg says, in an extract of the speech he is due to deliver at the Australian National University. Central to Mr Frydenberg’s argument, however, is the way the Australian economy has withstood attempted coercion such as trade restrictions.“It is no secret that China has recently sought to target Australia’s economy,” he says in the draft.
“Of those goods targeted by trade actions, our total exports to China are estimated to have fallen by around $5.4 billion over the year to the June quarter. The speech, one of the most direct by a senior cabinet minister about the tensions with China, comes days after Prime Ministerabout holding a meeting in Washington DC within the next three months.
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