Topics: Relationship with China, Labor’s broken promise on housing, Eshay culture 

E&OE   

SARAH ABO: 

Well, one of the world's largest economies is in the midst of a slowdown as China posts a three decade low due to a falling property market, declining population and a drop in consumption. Joining us to discuss today's headlines is Shadow Treasurer Angus Taylor and 2GB's Chris O'Keefe. Good to see you both in the studio today. Angus, it doesn't look good for the superpower, which doesn't necessarily bode well for us.  

ANGUS TAYLOR: 

No, it doesn't. And it's why it's so important we get other markets, we have diversity. And it's why we focused when in government on India, in particular, opening up those markets. But we need to have a diversity of markets because the Chinese economy was always going to slow and it certainly has.  

SARAH ABO: 

Should we be worried, Chris?  

CHRIS O’KEEFE: 

Well, I think we need we need a strong China simple as that we need a strong China for the prosperity of Australians. But I think we just need to be a bit sober about these numbers. They said there's been a decline in population - there's still 1.45 billion Chinese people and the declining population was 9 million. Sure, it's structural that there are more people dying than being born in China. But that will take a very long time to be borne out and play out. And as well as that, you've got an authoritarian regime in the Chinese Communist Party. They can do things to fix it that democratic nations can't. So I think the signalling the end of the superpower of China is probably a little premature.  

SARAH ABO: 

Yeah. I mean, it's interesting, the numbers coming out in a dateless forum anyway, like, it's sort of, as you say, how much transparency actually is there?  

CHRIS O’KEEFE: 

No, you wouldn't know, would you.  You would never know. And Angus experienced this in government, you never fully know what comes out of China is the truth. So I think a grain of salt whenever you hear stuff out of Beijing.  

SARAH ABO: 

What was it like dealing with them? 

ANGUS TAYLOR: 

Well, I didn't do a lot of direct dealing with them. I mean, pre politics, I probably had more to do with the Chinese. Yeah, it's an important customer for us, there's no question about that. But the key with China is you've got to stick to your values and stick to your interests.  

SARAH ABO: 

Yeah absolutely. I mean, and staying with China, I guess the Ambassador to Australia has suggested that we restart joint military operations is the two countries continue to try and mend that tense relationship, is that likely to happen?  

ANGUS TAYLOR: 

Well, I think the starting point is you do have to defend your values and interests in your relationship with any country, and that's particularly true in China. So let's start there. The idea of joint military operations right now, I think we're getting the cart ahead of the horse. 

SARAH ABO: 

Well, that's what I thought when I saw it this morning, I was like, surely not. Would Australia even entertain that idea? 

ANGUS TAYLOR: 

Well, look, you gotta ask the government that but... 

SARAH ABO: 

How would you feel about that in opposition?  

ANGUS TAYLOR: 

I'm deeply sceptical. I'm deeply sceptical about that idea, just now Sarah. And look, the truth is, we want to have a strong relationship with China. But we do have to stand up for our interests. And for our values. You've got to put a line in the sand with China. They are a big, strong country, and they're a great benefit to us when the relationship is good. But you should never ever compromise your values and interests in the process. 

SARAH ABO: 

We know that the restoring of relationships really has occurred under the current government, not so much under your government previously. What would you do then,  if you saw Australia heading in that direction? I mean, joint military operations is quite something.  

ANGUS TAYLOR: 

Well I think, yeah, as I say, you've got to step back and you've got to say is this in our interests, and is this consistent with our values and I've got to say, I'm deeply sceptical on this one. 

SARAH ABO: 

Chris? 

CHRIS O’KEEFE: 

As if the Chinese Communist Party sailors are going to be jumping in the nuclear submarines that Washington DC has just given us, or the Brits. Hey guys, come over and check out the nuclear submarine technology we've just spent $800 billion on or whatever, it's not gonna happen. All of it's spurious and the Ambassador can say whatever he wants, it's not gonna happen.  

SARAH ABO: 

Does it feel kind of desperate?  

CHRIS O’KEEFE: 

Of course, it's desperate, but at least we've got a thawing of a...sorry, when I say desperate, the stuff that we've heard out of China over a really long period of time, especially since the emergence of COVID, nothing really should surprise us that much.  

SARAH ABO: 

Yeah, okay. Well, what isn't that surprising is this idea that we're going to reach those housing targets. Angus, the government was very ambitious about building all these homes and has yet to really achieve any of those ambitions?  

ANGUS TAYLOR: 

Oh, it's another broken promise from Albo. And we've had lots, you know, we've had it on the $275 for electricity prices, we've had it on lower mortgage costs, and we're now seeing it on housing. I mean, truth of the matter is this government has let in another over half a million new Australians in the last 12 months, and we haven't got the houses, and it's dawning on them. Meanwhile, immigration levels have gone up not down since the last budget. So this is a government that has lost control of this agenda. Immigration and housing have got to live together. Right now, they're not living together well. 

SARAH ABO: 

I suppose they're recognising it as an issue trying to address it, but 1.5 million homes in five years, is a big ask.  

CHRIS O’KEEFE: 

It was never going to happen. And I think the Prime Minister even at the press conference said, look, we know this is pretty ambitious. Well, it wasn't ambitious, it was deluded. No one was ever going to build that many homes in Australia, given the planning system, the lack of skills in the construction sector, and the fact that interest rates are on the up, which means that financing these projects for developers is increasingly difficult. So I thought it was a bit of an ambit claim from the Prime Minister at the beginning and the fact that we're not going to reach it shouldn't surprise anybody. But I think more importantly, as Australians, if we want to build homes, we need to change our mindset on allowing them to be built in our streets. We all want homes built. We just don't want them built next door. 

SARAH ABO: 

NIMBYs. We're all gonna have to roll up our sleeves and pitch in, I think, for that one. Alright, just quickly an Ipswich pub has released a list of banned clothing items, which widely target eshay culture. Angus, do you know what eshay culture is? Bum bags, red Nikes, so on?   

ANGUS TAYLOR: 

I do now that I've read the article. I tell you what I've never been asked for fashion advice before so I'm not the right person to be... But I'm glad to see that mullets are not on the list.  

SARAH ABO: 

Just as well!  

ANGUS TAYLOR: 

I love a good retro mullet. 

SARAH ABO: 

In Ipswich, I mean, they're a thing, aren't they?  

CHRIS O’KEEFE: 

Ipswich? That would be mean to the Ipswichians. 

SARAH ABO: 

Hey! There's nothing wrong with a mull-ay! Could we see you in eshay culture on the weekend? 

CHRIS O’KEEFE: 

No, I don't steal phones at train stations. 

SARAH ABO: 

It's a bit of a generalisation, isn't it? 

CHRIS O’KEEFE: 

No... I don't think so. 

ENDS.