U.S. is flip-flopping, says China's ambassador to Australia

China's ambassador to Australia, Cheng Jingye, has said that the glimmer of hope for the world economy resulting from the consensus reached at the G20 summit in Osaka has been diminished by American flip-flopping.

According to an opinion piece from the ambassador published by The West Australian on Thursday, Australian business leaders are concerned about the fallout from the ongoing trade dispute between the United States and China.

The West Australian published an opinion piece on the U.S.-China dispute by China's ambassador to Australia, Cheng Jingye, on Thursday, August 15, 2019. [Photo: Chinese Embassy in Australia]

"The commodity, stock, and foreign exchange markets in many countries and regions were hit" after Washington "went back on its word any unilaterally announced an additional 10 percent tariff on 300 billion U.S. dollars' worth of Chinese goods," said the ambassador.

He quoted research by an economist from Curtin University that concluded the trade dispute would cost every Australian nearly 300 Australian dollars a year.

"As the only superpower in the world today," said Cheng, "the United States as has repeatedly broken its promises to the international community on global trade, climate change, nuclear non-proliferation and many [other issues]."

The ambassador stressed that China's commitment and determination to open further to the outside world would never change, nor will its support for multilateralism and free trade.

"As for the trade dispute, China's position will also stand unchanged: China does not want a trade war, but is not afraid of fighting one," said the ambassador.