Treasury Wine Estates chief executive Michael Clarke will have been one of many Australian chief executives watchingin the US in recent days. But for Clarke there was a lot more riding on the Prime Minister’s diplomatic execution.
For Morrison, walking the tightrope between Australia’s relationship with China and with the US is a difficult balancing act. It is understandable that executives from Australian companies that export to China would be white-knuckled. It is a fair bet thatAdvertisement Controversies aside, TWE is widely recognised to have successfully turned around its performance since Clarke came on board five years ago to undertake just that mission.
But Clarke understands his company needs to tread carefully. He said it was very important "we don’t become used as a pawn in a political debate between two countries" - saying it was important that no Australian political leader puts a foot wrong. Setting aside any bilateral diplomatic trade tensions between Australia and China, the US-China trade war has also inflicted some wounds on TWE thanks to US winemakers dumping volume meant for China back into their local market which, in turn, is depressing prices on all that sell into the US market.Cautious as Clarke may be, his demeanour is not one of a rattled executive. Indeed TWE presented a very optimistic view of the progress it has made on its self-improvement journey.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury Wine Estates boss concerned Penfolds could become political pawnTreasury Wine Estates chief executive Michael Clarke is worried the company could be caught up in the ongoing US-Chinese trade tensions.
Source: smh - 🏆 6. / 80 Read more »
Witness told to lie because 'ICAC did not have evidence', inquiry toldA witness has told the NSW corruption watchdog she told 'lie after lie' about donating to the Labor Party to help her boss, who had close ties to the party.
Source: smh - 🏆 6. / 80 Read more »
At least 19 killed, dozens wounded as Pakistan jolted by shallow quakeAt least 19 people have been killed and 300 injured after a shallow earthquake rattled northeastern Pakistan, tearing car-sized cracks into roads and heavily damaging infrastructure.
Source: SBSNews - 🏆 3. / 89 Read more »
Seven new panda cubs born in China | Sky News AustraliaSeven newly born panda cubs have made their debut at a Chinese breeding base. \n\nThe baby cubs were arranged in the shape of the number '70' to mark the anniversary of the founding of the People's Republic of China. \n\nA total of nine giant panda cubs were born at the base this year, with a survival rate of 100 per cent. Don't care. This is a totalitarian society bent on the subjugation of the free world. No playing with cute Pandas will obscure the crimes of a communist regime.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Chinese Uber identifies Communist Party drivers as app spreads to more Australian citiesA red flag steering wheel inside the ride-hailing service app now identifies drivers who are members of the Communist Party. What's the Australian govt doing to stop this CCP infiltration? AusPol
Source: abcnews - 🏆 5. / 83 Read more »
Australia condemns 'deeply disturbing' Chinese footage of blindfolded UyghursThe footage purportedly shows hundreds of freshly-shaven Uyghur men blindfolded with their hands tied behind their backs during a mass transfer at a train station in the north-west region of China. Couple this to the treatment of Tibetans and more recently those in Hong Kong and China is certainly now the bully on the block Awful . It’s like a another universe. Don’t buy Chinese produce . Easy !
Source: abcnews - 🏆 5. / 83 Read more »