I have long wondered whether Australia’s corporate world places its interests above all others, including the poor coot in Struggle Street.

Witness the banks.

When the Reserve Bank cut interest rates almost down to zero, only half of those cuts were passed on to the consumer.

But when the same Reserve Bank, since May, has kept on jacking up interest rates, all of them have been passed on to the consumer.

That is called corporate self-interest and bugger the consumer.

Australia’s banks have become a national security issue | Alan Jones

Alan Jones details the corruption and greed of Australia’s commercial banking executives.

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Where, then, does Rio Tinto sit, one of Australia’s largest mining companies?

In its latest financial statements, Rio listed all revenue from Taiwan as from ‘Greater China’.

The company wrote: ‘Consolidated sales revenue by destination has been adjusted to classify Taiwan and China together as Greater China.’

So, what’s the big deal?

Well, as I’m sure you know, Taiwan is a self-governing democracy that the Chinese Communist Party wants to seize and control.

In fact, just recently Chinese President Xi said reunification between Taiwan and China ‘is the historical trend and the right path’.

He said, ‘Taiwan’s independence is a reversal of history and a dead-end road.’

He declared that China will use ‘all means necessary’ including ‘force’ to get their way.

Judging by the rhetoric coming out of Washington and Canberra, Australia would likely join an allied fight to defend Taiwan if Beijing made a move.

So, by listing revenue generated in Taiwan as from ‘Greater China’, we must ask: what side will Rio Tinto – a key producer of some of our most important commodities – what side would Rio Tinto be on, if push comes to shove?

It seems Rio is trying to appease Xi Jinping and the Chinese Communist Party.

Does Rio agree with Beijing’s idea that Taiwan is a part of Greater China?

Of course, it’s hardly surprising to see why.

In 2022, more than 54 per cent of Rio’s revenue was generated in China.

The Chinese Communist Party state-owned mining business Chinalco is also one of Rio’s most important ongoing partners.

This begs the question.

Is the Chinese government telling Western companies, like Rio Tinto, that they won’t get Chinese money if they don’t alienate Taiwan and treat the island nation as a province of Beijing?

Are Australian companies buddying up to the Chinese Communist government and compromising on their values, to protect their revenue and profit?

Are Australia’s corporate elites so uninterested in Australian values and the wellbeing of our Allies, that they are willing to cower to an authoritarian regime that is willing to invade liberal democracies?

And is the Albanese government going to do anything to make sure the companies that profit from Australian resources, respect our Allies and our values?

Surely, these are serious questions; and they warrant serious answers.

I think a bit of real leadership, based on national, not personal and corporate interests, would not go astray.

But who cares?

It certainly seems that government doesn’t, or does it lack the guts to defend the national interest?

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