{"id":151706,"date":"2023-04-04T08:00:00","date_gmt":"2023-04-04T00:00:00","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=916209"},"modified":"2023-04-04T08:00:00","modified_gmt":"2023-04-04T00:00:00","slug":"trade-is-chinas-umbilical-cord-morgan-stanley-ceo-james-gorman","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2023\/04\/04\/trade-is-chinas-umbilical-cord-morgan-stanley-ceo-james-gorman\/","title":{"rendered":"\u2018Trade is China\u2019s umbilical cord\u2019: Morgan Stanley CEO James Gorman"},"content":{"rendered":"<div align=\"center\"><a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" ><img src=\"https:\/\/www.mediaintel.asia\/wp-content\/uploads\/mediaintelasia-logo-blackyellow-400x300-1.png\" border=\"0\" width=\"200\" height=\"150\" alt=\"MediaIntel.Asia\"><\/a><\/div>\n<p>Morgan Stanley CEO James Gorman says Australia needs to balance a healthy relationship with both the United States and China.<br \/>\nSpeaking at the Keith Murdoch Oration at the State Library Victoria on Tuesday night Mr Gorman, the Melbourne-born CEO who has headed one of Wall Street\u2019s biggest investment banks for more than a decade, said: \u201cTrade is China\u2019s umbilical cord\u201d.<br \/>\nMr Gorman said that bank runs and government intervention in the banking sector were a fact of life because \u201cyou can\u2019t regulate away fear\u201d. Arsineh Houspian<br \/>\n\u201cAustralia needs China to consume its iron ore, coal, and other products ... currently somewhere between 30 to 40 per cent of Australia\u2019s exports are to China ... [and] China needs access to the world,\u201d Mr Gorman said in comments prepared for delivery to an audience of business, media and political elite.<br \/>\nLachlan and Sarah Murdoch, NAB CEO Ross McEwan, investment banker John Wylie, former Victorian Premier John Brumby, Sanjeev Gupta and Allan and Maria Myers were scheduled to attend.<br \/>\n\u201cAustralia can and should forge alliances, respect its neighbours, and treat all countries as relationships to be developed but not co-opted. An alliance with the US and the UK does not violate that objective, nor does trade with China. We should look forward to many decades of US\/China\/Australia trade and understand the inevitable issues that will be part of that journey,\u201d he said.<\/p>\n<p>This data comes from <a href=\"https:\/\/www.mediaintel.asia\/\" title=\"MediaIntel.Asia provides Media Intelligence and Media Monitoring in Asia\" >MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Morgan Stanley CEO James Gorman says Australia needs to balance a healthy relationship with both the United States and China.<br \/>\nSpeaking at the Keith Murdoch Oration at the State Library Victoria on Tuesday night Mr Gorman, the Melbourne-born CEO who ha&#8230;<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[669,144,477,194,484],"tags":[2086,2724,10315,10428,10425,3402],"class_list":["post-151706","post","type-post","status-publish","format-standard","hentry","category-bank","category-china","category-investment","category-news-chinese-law","category-united-states","tag-australia","tag-exports","tag-media-intelligence","tag-melbourne","tag-minerals","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/151706"}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=151706"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/151706\/revisions"}],"predecessor-version":[{"id":151707,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/151706\/revisions\/151707"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=151706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=151706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=151706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}