Diane Francis: Canada may be getting bullied, but the ruthless giant is waving a big stick in even more devastating ways at other trading partners
Canada is being pushed around by China these days to prevent extradition to the U.S. of a Chinese billionaire’s daughter and executive of telco giant Huawei. Two Canadian diplomats have been unjustly imprisoned by China in retaliation.
Behind this is that America’s president, Donald Trump, has rightly called out the Chinese for trade cheating, cyberattacks, industrial espionage, theft of technology and an attempt by Huawei to penetrate key infrastructure systems through 5G projects. Two weeks ago, China fired a warning shot at Australia. Reports emerged saying Aussie coal shipments had been halted at five Chinese ports and that they may be banned. Since 32 per cent of Australia’s exports are to China, mostly coal, this caused the Australian dollar to tank, along with mining stocks.
Likewise, New Zealand and Chinese relations frayed recently following its ban on Huawei’s 5G projects, as well as a ban on foreign buyers of real estate to address its housing affordability crisis. Like Australia, New Zealand has become enormously dependent on China. New Zealand’s dairy industry provides 11 per cent of China’s needs and Kiwis host thousands of Chinese international students and tourists every year.
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