Tag : Coercion

Hong Kong: Communism was supposed to create workers' paradises, but history demonstrated that was a forlorn hope. China, the global factory, makes much of its outstanding economic growth, but economic coercion internationally, and forced labor abuses at home, are very much part of the Chinese Communist Party's (CCP) equation. For example, China has used trade as a weapon against the likes of Australia, Lithuania and South Korea for political purposes. Recognizing repeated Chinese intransigence, UK Prime Minister Rishi Sunak said last week, "We should be clear-eyed about the growing challenge we face. China is engaged in a concerted and strategic economic contest." The leaders of the G7 announced in Hiroshima on 20 May measures to respond to economic coercion in order to adopt a common approach against China and others of similar ilk. The G7 stated: "We are taking additional steps today to enhance our ongoing strategic coordination on economic resilience and economic security by reducing vulnerabilities and countering malign practices that exploit and reinforce them." Certainly, coordinated action is far more effective than unilateral efforts, as China seeks to divide and conquer with its economic cudgel. Noting that the world is encountering "a disturbing rise in incidents of economic coercion" which exploit economic vulnerabilities and undermine foreign and domestic policies worldwide, the G7 added: "We will address non-market policies and practices designed to reinforce dependencies, and will counter economic coercion. We will continue to ensure that the clearly defined, narrow set of sensitive technologies that are crucial for national security, or could threaten international peace and security, are appropriately controlled, withou ...