Australian prime minister says there is ‘great concern’ across the Pacific after Solomon Islands-China deal

Australian prime minister says there is ‘great concern’ across the Pacific after Solomon Islands-China deal


Prime Minister Scott Morrison speaks in a Q&A on March 16, 2022 in Perth, Australia.

Matt Jelonek | Getty Images

Australia Prime Minister Scott Morrison said on Saturday there was “great concern” across the Pacific after Solomon Islands confirmed it was creating a security partnership with China.

The Pacific island nation on Friday said it was expanding ties with China to combat security threats and ensure a safe environment for investment as it diversifies security relations.

A potential China security pact with Solomon Island has sparked concerns among U.S. allies Australia and New Zealand about Chinese influence a region where they have for decades held strong sway.

Asked by reporters in Sydney about the matter, Morrison said “there is great concern across the Pacific family because we are in constant contact with our Pacific family.”

“I will be in further discussions with leaders over the course of this weekend, there was a meeting yesterday with our head of mission and Prime Minister (Manasseh) Sogavare,” he said.

CNBC Politics

Read more of CNBC’s politics coverage:

Morrison said Sogavare on Friday indicated to Canberra that he appreciated Australia’s ongoing support for Solomon Islands.

“We are the Solomon Islands’ single largest development partner, daylight second, third, fourth,” Morrison said.

Australia has previously expressed concern about the impact on regional security of military cooperation between China and Solomon Islands after a draft document outlining the proposed cooperation was leaked this week.

On Thursday, a Solomon Islands official told Reuters a security deal with China covering the military would be sent to its cabinet for consideration. The Solomons has already signed a policing deal with China.

Solomon Islands, a small island nation around 2,000 km (1,240 miles) northeast of Australia, switched diplomatic recognition to Beijing from Taiwan in 2019, signaling China’s growing influence in the Pacific.

Washington last month said it would open an embassy in nation’s the capital Honiara amid fears China was seeking to strengthen military relations there.



Source

These companies have a track record of stock buybacks and are winners amid volatility, says Wolfe Research
World

These companies have a track record of stock buybacks and are winners amid volatility, says Wolfe Research

As markets remain jittery amid still-shifting trade policy and geopolitical concerns, Wolfe Research is eyeing companies that steadily repurchase their own stock as a way to ride out the volatility. Wolfe’s consistent buyback basket screens for companies that have such a track record of stock repurchases that their share counts have fallen for at least […]

Read More
Goldman’s advice on playing autonomous vehicles as catalysts approach this year
World

Goldman’s advice on playing autonomous vehicles as catalysts approach this year

With the autonomous vehicle (AV) industry poised to grow in coming years, several stocks could be a way to play the trend, according to Goldman Sachs. “Autonomous vehicles have arrived for both rideshare and trucking,” analyst Mark Delaney wrote in a note on Monday. “The key focus for investors is now on the pace at […]

Read More
AI is disrupting the advertising business in a big way — industry leaders explain how
World

AI is disrupting the advertising business in a big way — industry leaders explain how

An AI assistant on display at Mobile World Congress 2024 in Barcelona. Angel Garcia | Bloomberg | Getty Images Artificial intelligence is shaking up the advertising business and “unnerving” investors, one industry leader told CNBC. “I think this AI disruption … unnerving investors in every industry, and it’s totally disrupting our business,” Mark Read, the […]

Read More