The government of Australia is not ready to participate in China’s One Belt One Road initiative, The Australian said, citing sources familiar with the matter.
According to the newspaper, Chinese Foreign Minister Wang Yi during the talks with his Australian counterpart Julie Bishop in February expressed the wish for Australia to sign a memorandum of understanding on its participation in the One Belt One Road initiative during the visit of the Premier of the State Council of China.
The government and the national security committee have reservations about the proposal, The Australian notes. The key reason of the country’s reluctance to join the initiative of China was the lack of any evidence that the signing of the memorandum would lead to a noticeable benefit for Australia.
