Former Australian Prime Minister Scott Morrison has warned that a war over Taiwan will cripple China’s economy and make it suffer far more than Western countries. In a speech at the Hudson Institute on Dec. 7, Morrison warned of a “mutually assured destruction” if conflicts break out between Washington and Beijing over Taiwan Strait. “There…
Former Australian PM Issues Warning to Beijing on Taiwan Issue
December 8, 2022
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Asia & PacificAustraliaChinachina attack taiwanChina-Australia RelationsChina-Taiwan TensionsChinese RegimeInternationalInternational RelationsJim ChalmersmilitaryPrime Minister Scott Morrisonrare earthThreat from Communist ChinaUS-China relationsWorld
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Greens Call Federal Government’s Housing Accord a ‘Complete Con’
November 28, 2022
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Affordable HousingAustraliaaustralian housing marketBusiness & MarketseconomyGlobal Real EstateInternationalJim Chalmerspersonal financereal estaterecessionsocial housingWorld
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The Greens party have accused the federal government of hustling Australians after an analysis by the Parliamentary Library alleged that only 2.02 percent of the one million homes promised under the National Housing Accord would be affordable. The National Housing Accord, announced on Oct. 25, by Treasurer Jim Chalmers, is a landmark agreement between the…
Energy Crisis Could ‘Hollow Out’ Australia’s Manufacturing Sector, Treasurer Warns
Soaring energy prices could “hollow out” Australia’s manufacturing sector in particular, but the government is trying to work out a solution, Treasurer Jim Chalmers said. At an Australian Industry Group lunch in Canberra on Monday, Chalmers said he was preparing to announce temporary and sensible regulations to address the energy crisis. “We don’t want to…
Australia, China Leaders to Meet on the Sidelines of the G20
November 14, 2022
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Leaders from Australia and China have agreed to meet on the sidelines of the G20 Summit in Bali, Indonesia, suggesting a thawing in diplomatic relations. This will be the first time in over two years that leaders have met after the Chinese Communist Party (CCP) took issue with the Australian Morrison government calling for an…
Push for Republic Referendum to Come After Indigenous Voice to Parliament: Treasurer
Australian Treasurer Jim Chalmers indicated that the government would begin its push to turn Australia into a republic after the Indigenous Voice to Parliament is finalised. Speaking on ABC’s Q and A program, Chalmers said he would prefer to see an Australian replace the late Queen Elizabeth II for the new design of the five…
Australian PM Says No to Living Cost Relief for Households
Australian Prime Minister Anthony Albanese has rejected calls for government handouts to help struggling families cope with rising living cost pressures while stressing the need for further budget repair. Speaking at the Economic and Social Outlook Conference in Melbourne on the night of Nov. 2, the prime minister said that untargeted spending would exacerbate the…
Interest Rates Need to Rise to Fight the ‘Evil of Inflation’: Reserve Bank of Australia
The Reserve Bank of Australia (RBA) has warned that interest rates need to go higher amid the current cost of living crisis to rein in inflation and avoid the risk of recession. In a speech to the Reserve Bank Board dinner in Hobart, Philip Lowe, the governor of the RBA, said the bank “will do…
Australian Treasurer Says Federal Budget Will be More Sustainable Amidst Rising Spending
Australian Treasurer Jim Chalmers has said that the government would improve the budget’s sustainability during the current parliamentary term despite rising public debt and government spending on welfare. Following the release of his first budget on Oct. 25, the treasurer said the government had to make hard decisions to lower budget deficits and get funding…
Budget Brings Nothing New to the Table
October 27, 2022
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AustraliaAustralian federal budgetBusiness & Marketseconomic policiesfederal spendinginflationInternationalJim ChalmersOpinionViewpointsWorld
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What the Australian Treasurer Jim Chalmers tabled on Oct. 25 was not a budget in the traditional sense but a mini-budget or update. Unlike a regular annual budget there were few announcements of new policies or fiscal strategies. But it suited Chalmers to elevate it to the status of a budget for dramatic effect—to emphasise…
Australia’s Defense Budget Hits 20-year High
October 27, 2022
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Asia & PacificAUKUSAustraliaccp threatChinaChina-Australia RelationsInternationalInternational RelationsJim ChalmersRichard MarlesThreat from Communist ChinaUS-China relationsWorld
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In its first budget in nearly a decade, Australia’s Labor government has announced it will follow through with the previous government’s pledge to spend $270 billion (US$174billion) in military capability upgrades by 2030. Under the new budget, defence spending will rise to $48.7 billion this year and eventually reach over two percent of GDP, a…
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