The deals with Victoria aimed to increase Chinese participation in new infrastructure projects. Two other deals between Victoria and Iran and Syria govts have also been scrapped.
China’s track record managing debt distress has been problematic. It has not signed on to a binding set of rules of the road to avoid unsustainable lending and addressing debt problems.
The participation of middle powers in platforms such as the G20, ASEAN, AUKUS dialogues, and regional security forums positions them as brokers between competing interests.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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