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New Australia Law Can Scrap China Belt and Road Accords
Prime Minister Scott Morrison has new powers to veto or scrap agreements that state governments reach with foreign powers under laws that could stymie China’s Belt and Road Initiative in Australia and further inflame tension between the trading partners.
New Australia law passed by Parliament on 8 Dec (Tuesday) will give the foreign minister the ability to stop new and previously signed agreements between overseas governments between overseas governments and Australia’s states and territories, and with bodies such as local authorities and universities.
The states and territories have at least 130 agreements across 30 nations that could be affected by the new law, according to Morrison.
It’s the latest move by the government to safeguard national interests. Morrison also plans to toughen foreign investment screening.
Source: Bloomberg #Dec08
https://www.bloomberg.com/news/articles/2020-12-08/australia-passes-law-that-can-scrap-china-belt-and-road-accords
#Australia #AustraliaLaw #BeltRoadInitiative
Prime Minister Scott Morrison has new powers to veto or scrap agreements that state governments reach with foreign powers under laws that could stymie China’s Belt and Road Initiative in Australia and further inflame tension between the trading partners.
New Australia law passed by Parliament on 8 Dec (Tuesday) will give the foreign minister the ability to stop new and previously signed agreements between overseas governments between overseas governments and Australia’s states and territories, and with bodies such as local authorities and universities.
The states and territories have at least 130 agreements across 30 nations that could be affected by the new law, according to Morrison.
It’s the latest move by the government to safeguard national interests. Morrison also plans to toughen foreign investment screening.
Source: Bloomberg #Dec08
https://www.bloomberg.com/news/articles/2020-12-08/australia-passes-law-that-can-scrap-china-belt-and-road-accords
#Australia #AustraliaLaw #BeltRoadInitiative
Bloomberg.com
New Australia Law Can Scrap China Belt and Road Accords
Prime Minister Scott Morrison has new powers to veto or scrap agreements that state governments reach with foreign powers under laws that could stymie China’s Belt and Road Initiative in Australia and further inflame tensions between the trading partners.