Daily Memo: China Airs Its Grievances With Australia

Beijing also won’t appreciate the Quad's latest naval exercises.

14 points of disagreement. A day after Chinese Foreign Ministry spokesman Zhao Lijian listed seven points of disagreement with Australia – ostensibly as justification for a series of major Chinese trade actions targeting Australia – a Chinese embassy dossier including at least seven additional bones to pick with Canberra turned up in Australian media. China doesn’t usually make its demands so explicit. The list runs quite a gamut, underscoring just how little China thinks it has to gain by playing nice with Australia. Beijing also won’t love the new naval war games launched Thursday featuring all four Quad partners (Australia, India, Japan and the United States). More Chinese bond defaults. The surge of onshore bond defaults by Chinese state-owned enterprises is continuing. It’s hard to say just how much this is a sign of mounting financial stress in China, and just how much it’s a sign that Beijing has become confident enough about its stabilization tools to start addressing its moral hazard problems by allowing poorly run state-backed firms to face a reckoning. Next steps in Nagorno-Karabakh. Russian Foreign Minister Sergei Lavrov on Wednesday met with representatives of France and the United States, the other co-chairs of the Organization for […]

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