WHEN Donald Trump renounced America’s commitment to the Paris Accord the Chinese government leapt in with the type of leadership it has been dying to show for some time now.
China thinks the US is retreating into itself and they can become the new world leader. China has been working on a policy under which it will seek to create partners all across the Middle East and into Europe to create a new trading empire with China as the linchpin.
In tandem with this it will create naval bases in a number of places across the Indian Ocean.
It has the clunky name of One Belt, One Road and is a new version of the old Silk Road, whereby China will secure the raw materials it needs, penetrate economies along the pathway, and secure its trade routes.
Apart from that it’s vague but remember the discussion following the Chinese purchase of the port of Darwin. Chinese intentions have a way of being obscure and that bothers us.
Anyway, it was interesting to see the dignitaries roll up to the Sheraton Mirage in Port Douglas last year for the relaunch.
The owner (Fullshare’s chairman), our state premier and the treasurer were there but the most important person by far was a fellow called Gang Meng from the China Development Bank.
The CDB, with trillions of dollars in assets, is China’s main bank tasked with infrastructure and development.
A Fullshare employee once mentioned to me the One Belt, One Road policy, without explaining any linkage to the company.
I’m not saying there is one, and if there is it may not be sinister at all.
It’s just interesting. The Chinese see our Northern Australia Infrastructure Fund and figure what a neat alignment that would be with their grand strategy, one that aims to reshape the global economy and potentially much more. The Far North is on China’s radar.