News
Australia investigates Chinese lease on nation’s ‘northern gateway’ for Australasian trade
The Australian Government is reviewing the ownership of a port owned by a Chinese company.
It’s questioning whether the controversial lease of the Darwin Port should be scrapped.
A 99-year-lease contract that has unsettled Australia’s security officials, could be torn up… escalating further tensions with China.
The Australian Government is reviewing the ownership of a port owned by a Chinese company.
The port is in a calculated position, located in the top end of Australia in the city of Darwin.
It’s used as a base of US Marines.
The port has been leased by Landbridge for the past six years, but there are still security concerns about the $500 million arrangement.
The nation’s defence officials are now investigating whether the company should give up its ownership for the sake of national interests.
It comes on the back of China accusing Australia of economic coercion.
China slammed Australia’s decision last month, to use new laws to cancel the Belt-and-Road agreements with the Victorian state government.
Now there is speculation that Prime Minister Scott Morrison may use the same laws, to scrap long-term leases held by Chinese companies at ports in Darwin and Newcastle.
TWO-WAY TRADING PARTNERS
China is Australia’s largest trading partner for goods and services
The lease of the Darwin Port is still valid for another 93 years.
So should land-bridge be forced to give up its ownership of the port… there is no doubt relations between the nations will shrivel even further.
