There is a bank run, meltdown at BBC about its proximity with government, and Rishi Sunak must prove Wednesday that he has not abandoned Growth.
On Sunday, the prime minister flew 5,000 m to the US West Coast to confront a threat that could one day surpass them all: China.
He will join Joe Biden, the US President, and Anthony Albanese, the Australian Prime Minister, to declare that China is the greatest threat to the UK’s economy. They also plan to discuss what to do about it.
This is not the same as what Mr Sunak stated during the leadership contest: that China poses the greatest long-term threat for Britain overall, which implies some degree of military danger.
Analysts believe that war on Taiwan could occur in the second decade. However, no one knows how dangerous such a conflict would be.
However, the PM retorted emphatically on Sunday when he spoke out with journalists, saying that it was not smart nor sophisticated to use this language.
It is clear that the three leaders have coordinated their approach and language to be revealed on Monday. Mr Sunak also refused to endorse the laboratory leakage as the likely cause of the pandemic. This was part of an effort to maintain dialogue with China without getting into unnecessary confrontation.
Sunak, who was clearly not content to close the door, stated that isolation was not the best approach. He said this on the flight to the USA, as it is with Russia. This suggests that he believes that future conflict is possible.
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He said, “The size and importance of their economy, it’s necessary and right to interact with them in order try to make a difference on matters that we care about, whether it’s for example, tackling global health, climate change, macroeconomic stability-that’s what all of our allies think.”
“Whether it be President Macron or Chancellor Scholz, I believe everyone shares the exact same approach, which is to not ignore China but to engage, defend things that matter to us, and engage with China, which is a large and influential player on global scene in areas where there is common interest or we can make things better.”
This doesn’t mean that the government doesn’t see the threat from China. They believe China can mobilize any part its economy to further the state’s goals, hence TikTok ban on government phones this weekend.
It is now known that half the world’s shipping containers pass through Taiwan. This means that the economic disruption caused by war in Taiwan would be greater than the effects of an invasion of Ukraine or a pandemic.
They witnessed what happened in Hong Kong to freedom of speech and listened to President Xi Jinping’s public pronouncements. He just last week stated that the US and other Western countries were leading the “suppression of China.”
This is why San Diego’s actions may seem less extreme than the language. China is likely to take the threat of China’s participation in this alliance of three of the largest military power in the world to share information and equipment in order to counter a threat to the Pacific.
The latest update to the Integrated Review shows that Mr Sunak seeks to learn from Ukraine and create new structures to accelerate sanctions and make them more effective. China is likely to also be concerned about the construction of nuclear-powered submarines for Australia at locations like the already-strained Barrow in Furness site.
China is not at the tipping point that would lead to confrontation, according to the government. It remains to be seen if the next 36 hours will make it more likely.