Concerns over Beijing’s bid for global trade dominance

A controversial trillion-dollar push by China to dominate global trade is being resisted by senior national security figures who warn of serious “strategic” consequences if Australia formally signs up.
The ABC has confirmed the heads of the immigration and defence departments were among those opposed to Beijing’s ambitious “One Belt, One Road” initiative, firmly advising the Turnbull Government earlier this year not to join it.
Several government sources have told the ABC the Chinese plan also provoked a schism inside the Department of Foreign Affairs and Trade, with trade bureaucrats broadly in favour of joining while the diplomatic corps was reticent.
So far, 68 countries including New Zealand have signed up to the signature project of Chinese President Xi Jinping, which marks his nation’s plans to expand its power in the region and beyond.
“The economic case for Australia formally joining simply wasn’t made,” a senior government figure has told the ABC.
Under the massive plan first unveiled in 2013, China wants to revive an ancient network of land and ocean silk trade routes and has already spent billions of dollars on new infrastructure projects for roads, railways, ports and maritime corridors.
The land-based projects are the “belt” while the “road” is made up of maritime routes that will connect China’s southern provinces to Southeast Asia and the east coast of Africa with ports and railways.
During last week’s 19th Party Congress the Chinese President continued to push the Belt Road Initiative and expressed his hope more nations would soon join. – ABC