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Business Standard
3 days ago
- Business
- Business Standard
Darwin port dispute shows not all Chinese stakes pose security threat
Australia's northernmost maritime gateway has become a lightning rod for the fragile relationship between the US and China — but while national security concerns are warranted for many of the ports that Beijing controls or owns, this is hardly the one to worry about. President Donald Trump's trade war has meant that almost everything to do with China is now viewed through the lens of geopolitics. In 2015, the privately held Shandong-based Landbridge Group — a Chinese logistics, infrastructure, and petrochemical firm — secured a 99-year lease for the strategically significant Port of Darwin, located just off the coast of the Indonesian border and near military bases that routinely host rotations of US Marines in Australia. Beijing's ownership of critical infrastructure has been growing steadily over the years, but Trump's new administration is paying more attention. China operates or has ownership in at least one port on every continent except Antarctica, according to the Council on Foreign Relations tracker. Of the 129 projects, 115 are active. Beijing is also outpacing Washington in investments in global port infrastructure, which America deems critical to economic and military security. Key concerns include intelligence gathering, sabotage, and the pre-positioning of weapons and ammunition via critical infrastructure, notes Thomas X. Hammes, a non-resident senior fellow with the Atlantic Council. In theory, the world's second-largest economy could exploit this network to challenge the sea control essential to American success in an armed conflict, he adds. China has consistently denied these claims, saying they are yet another example of the US trying to contain its legitimate commercial ambitions. Amid Beijing's expanding influence, reclaiming control of Darwin has taken on renewed urgency in Australia, emerging as a rare point of bipartisan consensus. Prime Minister Anthony Albanese's government is working to find a new operator and to revoke the Chinese firm's lease. The port is a major export hub for live cattle, and the import and export of petroleum products. Discussions have intensified in recent months, with an American firm linked to the Trump administration reportedly encouraged to step in. Bilateral relations between Canberra and Beijing collapsed during the pandemic, when China imposed tariffs and trade barriers on Australian goods. Ties have been repaired, but are being tested since Chinese warships entered Australian waters earlier this year. The Albanese government has downplayed the incidents, but skepticism lingers over the true intention of the live-fire drills. Beijing hasn't done itself any favors, David Andrews, senior policy adviser with the National Security College of the Australian National University, told me, adding that even when Landbridge secured the lease, Australia was aware of the challenges that a rising China would pose. 'It's unlikely that a port with this strategic location would be leased or sold today,' he said. China has previously bristled at foreign interference in its overseas port stakes. It reacted sharply to US pressure over control of Panama Canal terminals, prompting Hong Kong-owned CK Hutchison Holdings Ltd. to consider selling its two operations there. Beijing has fiercely opposed the sale over worries it could affect its global shipping and trade ambitions. A similar backlash could loom for Albanese if the Chinese view moves to reclaim Darwin as politically motivated. Australia's balancing act needs to be delicate. The US is its top source of foreign investment and closest security ally, but China remains its dominant export destination. Avoiding knee-jerk reactions based on perceptions would help the Albanese government build goodwill and strengthen its credibility for when there are legitimate worries and it needs to negotiate with its trading partner. As the rivalry between Washington and Beijing deepens, the debate over national security in critical infrastructure should be grounded in fact, not fiction.
Korea Herald
29-05-2025
- Business
- Korea Herald
International Friendship Cities Business Matchmaking Fair during "2025 Shandong International Friendship Cities Cooperation and Exchange Week" Held in Jinan
, May 29, 2025 /PRNewswire/ -- A report from Shandian News. On the afternoon of May 27, the International Friendship Cities Business Matchmaking fair was held in Jinan. As one of the key activities of "2025 Shandong International Friendship Cities Cooperation and Exchange Week", it is hosted by Shandong Provincial People's Government and jointly organized by the Foreign Affairs Office of Shandong Provincial People's Government, the China Council For The Promotion of International Trade Shandong Sub-council, Department of Commerce of Shandong Province, and other departments. A total of 420 attendees participated, including delegations from nearly 40 friendship cities and states across 24 countries, alongside 70 foreign enterprises and 130 Shandong-based companies. They gathered to explore new opportunities for economic and trade cooperation and development on the platform of the international friendship cities cooperation and exchange. Through high-standard systematic screening, standardization, indexing, matching and other procedures, the meeting comprehensively collected more than 60 cooperation demands from 70 foreign enterprises, attracting more than 100 Shandong enterprises to engage in one-on-one in-depth negotiations with their foreign counterparts during the meeting, further amplifying the effect of the platform for gathering resources from friendship cities, boosting the province's expansion of high-level opening-up and contributing to the strength of the friendship cities.
Yahoo
29-05-2025
- Business
- Yahoo
International Friendship Cities Business Matchmaking Fair during "2025 Shandong International Friendship Cities Cooperation and Exchange Week" Held in Jinan
JINAN, China, May 29, 2025 /PRNewswire/ -- A report from Shandian News. On the afternoon of May 27, the International Friendship Cities Business Matchmaking fair was held in Jinan. As one of the key activities of "2025 Shandong International Friendship Cities Cooperation and Exchange Week", it is hosted by Shandong Provincial People's Government and jointly organized by the Foreign Affairs Office of Shandong Provincial People's Government, the China Council For The Promotion of International Trade Shandong Sub-council, Department of Commerce of Shandong Province, and other departments. A total of 420 attendees participated, including delegations from nearly 40 friendship cities and states across 24 countries, alongside 70 foreign enterprises and 130 Shandong-based companies. They gathered to explore new opportunities for economic and trade cooperation and development on the platform of the international friendship cities cooperation and exchange. Through high-standard systematic screening, standardization, indexing, matching and other procedures, the meeting comprehensively collected more than 60 cooperation demands from 70 foreign enterprises, attracting more than 100 Shandong enterprises to engage in one-on-one in-depth negotiations with their foreign counterparts during the meeting, further amplifying the effect of the platform for gathering resources from friendship cities, boosting the province's expansion of high-level opening-up and contributing to the strength of the friendship cities. View original content to download multimedia: SOURCE Shandian News Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Oil Advances in Risk-On Mood Ahead of OPEC+ Committee Meeting
(Bloomberg) -- Oil rose alongside equity markets ahead of an OPEC+ committee meeting, while traders monitor the prospect for more US sanctions on Russia. UAE's AI University Aims to Become Stanford of the Gulf NY Wins Order Against US Funding Freeze in Congestion Fight Brent climbed toward $65 after closing 1% lower on Tuesday, while West Texas Intermediate was above $61. The Joint Ministerial Monitoring Committee, which tracks market developments, meets later Wednesday before a group led by Saudi Arabia convenes on Saturday to decide on output policy for July. Members held preliminary talks last week on making a large production hike for a third consecutive month, according to delegates. The ramp up of idled production by OPEC and its allies has stoked fears about oversupply and added to the pressure on prices. Parts of the futures curve for Brent are in contango — a bearish structure that signals ample supply. 'Crude fundamentals remain under significant pressure,' said Gao Jian, a Shandong-based analyst at Qisheng Futures Co. 'The early-session rally could be driven by improved macro risk sentiment.' Oil has trended lower since mid-January, with sweeping tariffs from the Trump administration and retaliatory measures from targeted countries adding to bearish headwinds, raising concerns over an economic slowdown. However, there has been some signs recently of easing trade tensions. President Donald Trump, meanwhile, warned in a social media post on Tuesday that Russian leader Vladimir Putin was 'playing with fire', as the US weighed whether to target Moscow with additional sanctions. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Why Apple Still Hasn't Cracked AI Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Oil Advances in Risk-On Mood Ahead of OPEC+ Committee Meeting
(Bloomberg) -- Oil rose alongside equity markets ahead of an OPEC+ committee meeting, while traders monitor the prospect for more US sanctions on Russia. UAE's AI University Aims to Become Stanford of the Gulf NY Wins Order Against US Funding Freeze in Congestion Fight Brent climbed toward $65 after closing 1% lower on Tuesday, while West Texas Intermediate was above $61. The Joint Ministerial Monitoring Committee, which tracks market developments, meets later Wednesday before a group led by Saudi Arabia convenes on Saturday to decide on output policy for July. Members held preliminary talks last week on making a large production hike for a third consecutive month, according to delegates. The ramp up of idled production by OPEC and its allies has stoked fears about oversupply and added to the pressure on prices. Parts of the futures curve for Brent are in contango — a bearish structure that signals ample supply. 'Crude fundamentals remain under significant pressure,' said Gao Jian, a Shandong-based analyst at Qisheng Futures Co. 'The early-session rally could be driven by improved macro risk sentiment.' Oil has trended lower since mid-January, with sweeping tariffs from the Trump administration and retaliatory measures from targeted countries adding to bearish headwinds, raising concerns over an economic slowdown. However, there has been some signs recently of easing trade tensions. President Donald Trump, meanwhile, warned in a social media post on Tuesday that Russian leader Vladimir Putin was 'playing with fire', as the US weighed whether to target Moscow with additional sanctions. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Why Apple Still Hasn't Cracked AI Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P.
