China and WA bypass Canberra with historic trade deal

The topic of the article I read is “China and WA bypass Canberra with historic trade deal”.

This article talks about the trade and investment agreement signed by WA Premier Colin Barnett with China's peak economic planning body, the National Development and Reform Commission. This is a new era of relations between China and WA. The article clearly states that it is the first time that China has entered into such a pact with a state or provincial government anywhere in the world, and it reflects the fact that 70 per cent of national exports to China are from WA and 80 per cent of Chinese investment in Australia is in the resource-rich state. This deal is thought to aim at minimising tensions over business dealings between China and Australia. I feel that it is a great opportunity for China to be signing an agreement like this with a state government.

The agreement signed between both countries covers sectors including resources, resources-related technologies, energy, agriculture, machinery, chemicals and infrastructure. It is expected to be extended in the future. This may also allow joint ventures between Chinese engineering construction and design companies. I believe that unlike the chunnel story, China and Australia will reach their goals even though they might have different perspectives and culture.

http://www.theaustralian.com.au/business/economics/china-and-wa-bypass-canberra-with-historic-trade-deal/story-e6frg926-1226139348721