ANALYSIS: Why Australian iron ore could save Taiwan
As the dark clouds of war gathered over north-east Asia in 1938, a curious battle took place at home which forever tainted the memory of Liberal Party founder Sir Robert Menzies and that could be a portend of what lies ahead.
It was an event that caused the future prime minister to be dubbed 'Pig Iron Bob' and — after the 1941 attack on Pearl Harbour that saw Australia at war with Japan — he was taunted by jibes that he'd shipped iron ore to Japan before the war only to have the Imperial Army send it back in the form of bombs and bullets.
The time, however, rapidly is approaching when we may be forced to choose as China vies for strategic dominance in the Pacific.It is a possibility that barely has registered in public debate and one few seem willing to confront, at least in public. Not even financial markets are factoring in the prospect of a violent upheaval in either our national income or to the revenues of the corporations that dominate our trading relationship.
It systematically has locked us out of its markets for almost everything from coal to lobsters using increasingly flimsy excuses about tainted grain, pest-infected wood, protected wine and whatever else to punish our perceived indiscretions. A rapidly ageing and shrinking population, rising and massive debt levels, slowing growth, a property meltdown and crackdowns on high-tech ventures have left the economy wounded and deeply scarred. Then there are the ongoing COVID-19 lockdowns wreaking havoc.
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