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selling yellowcake and .... « Previous | |Next »
April 4, 2006

So the way has been cleared for China to buy massive shipments of Australian uranium worth billions of dollars, with the signing of a nuclear safeguards agreement with Beijing.

Bruce Petty

That's just the beginning isn't it. The ALP is beginning to feel the political heat over its resistance to uranium expansion. Nothing should stay in the way of making profits. Quarry Australia stands to make a lot of money. That's how it should be.That is what matters.

Just a query. Aren't those who until last year denied that climate change was happening now say that climate change is so severe that nuclear energy is the answer and as Australia has the uranium, so.......forget renewable energy. Nuclear is the key to our problems. No worries. Another query. If Australian uranium is not used to manufacture weapons, won't it free up other Chinese uranium for the same use?

Nicholas Stuart says that there are three basic reasons why people are concerned about selling uranium to China.

Firstly there are the inherent dangers of the nuclear fuel cycle. Both America and Russia have demonstrated - at Three Mile Island and Chernobyl - that safely managing a nuclear reactor is not easy.The second problem is disposing of radioactive waste. Nevertheless, with one eye on the very real dangers of global warming, and the other on the lucrative export dollars we'll be earning, a way will be found around the storage issue.The third danger is something no one is really prepared to speak about. It is the risk that by selling uranium to China we are, somehow, fuelling a new nuclear arms race.

Selling yellowcake is just the beginning. There's the matter of free trade agreement---to take advantage of ---profit from--- buying low-cost manufactured products from the new "workshop of the world". Now there is a small matter the such a free trade agreement threatening Australian industry, particularly the car and textiles, clothing and footwear industries, is ther enot? No worries says Murdoch's Australian:
Sure, a free trade deal with China would put competitive pressure on parts of Australian industry and the Howard battler voters who work there. But the entire reform agenda of the past two decades has taught us that such competition is the key to sustaining opportunity and prosperity. Working-class Australians benefit from buying inexpensive consumer goods, from cars, to home entertainment to shoes. They are more likely to get decent jobs in a more competitive economy (and a more flexible job market that helps the economy to adjust). And their mortgage repayments are more likely to remain under control with low inflation, in part imported from low-cost China.

Sounds like the low wage pathway of economic reform to me.

| Posted by Gary Sauer-Thompson at 10:07 AM | | Comments (0)