'Fear and greed': Tony Abbott Reveals What Drives Australia’s China Policy To German Chancellor Angela Merkel

Tony Abbott said that his government was driven by “fear and greed” when it came to China policies. The Australian prime minister admitted it to German Chancellor Angela Merkel in November 2014.

Abbott’s comments were a sharp contrast to the reasons he gave for Australia’s relation with China. He told Chinese President Xi Jinping on Nov. 17, 2014 in his welcome speech that it was “a joy to have friends come from afar.”

Abbott’s fear and greed” comment to Merkel was made during a private conversation on the previous day. Merkel apparently asked the Australian PM what drove behind Australia’s China policy. According to reports, the Australian PM had a grin on his face when he made the comment.

The national leaders also talked about climate change and asylum seeker policies. According to observers, both sides ended the private conversation with uproarious laughter.

Opposition Leader Bill Shorten strongly criticised Abbott’s remark. He called it “ill-informed and irresponsible.” “It’s a sad day for our nation when we see the Prime Minister talking down Australia,” Shorten said, “This isn’t the first time Tony Abbott has put his foot in his mouth on the world stage.”

The opposition leader added that he did not believe it was the last time Abbott did something like that. Shorten called China as a great friend of Australia. He said that Abbott did not speak on behalf of all Australians when he spoke things like that.

China Matters founder Linda Jakobson seemed perplexed while commenting on Abbott’s remark. She said that Abbott had captured the bipolar nature of Australia's attitude to China.

The International Monetary Fund earlier said in a report that China’s slow economy was affecting the Australian market. The report said that China’s real GDP growth fell from 7.4 per cent in 2014 to 6.8 per cent in 2015. It weakened demand for Australian commodities, according to the IMF report.

The IMF’s April 2015 World Economic Outlook said that Chinese authorities were expected to put greater weight on reducing vulnerabilities from recent rapid credit and investment growth. There is a further slowdown predicted, especially in real estate.

Contact the writer: s.mukhopadhyay@ibtimes.com.au