Trade with china is a good thing. but hinkley point is a dud _ simon jenkins _ opinion _ the guardian

China’s ambassador in London, Liu Xiaoming, wrote of relations with Britain being ‘at a crucial historical juncture’ over Hinkley Point. Trade source definition Photograph: David Parry/PA

Thanks to the incompetence of the Blair, Brown and Cameron governments, Britain will soon be chronically short of baseload (that is, not wind) electricity generation. Strategic trade policy definition It was hoped that salvation might come from a new generation of French nuclear stations. Balance of trade definition quizlet These have not worked anywhere, and to pretend that Hinkley is the answer has long been not just reckless but absurdly expensive.


Definition of trade school Only those with fingers in the nuclear till still excuse Hinkley – and they do not include France’s EDF accountants and trade unions.

We smell a rat when lobbyists start using the language of Hinkley’s apologists such as Lord Mandelson. National trade definition On the BBC he did not mention value for money, but rather “invidious relations” with China, of “paying the price”, of world stages and goodwill. Trade restrictions definition This is the diplomat-speak that dazzled George Osborne into negotiating his deals with Beijing and Paris: he promised guarantees and rates of return inconceivable in current bond markets, at triple the current energy price to future British consumers – even assuming the project sees production.

The argument can cut both ways. Trade value definition If I were a Beijing Westminster-ologist, I would argue that China should respect a trading partner that knows a bad deal when it sees one – and has a leader with the guts to admit it. Definition of cap and trade system I would argue that there are better candidates for China’s Trojan horse on to the world economic stage than a white elephant flopping on the shores of the Bristol Channel.

Besides, Beijing should beware a nation incapable of building its own power stations, especially when its central bank is awash in cash. Definition of global trade patterns What use is a Britain that has to wheedle, bribe and bow to foreigners for a project that domestic investors would not rightly touch with a bargepole?

There is clearly some nonsense in Downing Street’s reported reservations over Hinkley’s security. Passing trade definition To question China’s good intentions in financing the power station is silly. Simple definition of fair trade It is a French-built plant, and the idea that Beijing might contrive to embed and then activate some doomsday bug is absurd. Carriage trade definition For May’s aides to witter on about Chinese duplicity suggests she has yet to shed her enthralment to Home Office securocrats.

Nonsense too are much-vaunted “reservations about human rights”. Trade processing definition Britain does commercial deals with all sorts of horrible places. Home trade definition The idea that China, any more than Britain, would allow its internal politics to be influenced by foreign opinion is another diplomat’s fantasy. Global trade liberalization definition Nothing was more hypocritical than British ministers at the 2008 Beijing Olympics, “raising human rights issues” with Chinese officials as a sort of burp, before cheering on a blatant display of communist autocracy.

May’s team should do the opposite. Trade support definition They should shut up about security and discuss with China the constructive alternatives to Hinkley. Openness to trade definition These might include ways in which Chinese nuclear technology, not just money, might bear fruit in Britain, as in the new age of small-scale generators. Trade media definition Trade, as the ambassador says, is a matter of mutual trust, but also of mutual benefit. Definition of trade policy There is no mutuality in Hinkley, but there might be in “modular” reactors, as has already been mooted.

The prime minister has to get this one right. Domestic slave trade definition She needs to show herself rational, decisive and immune to the blandishments of the Downing Street old guard. Maritime trade definition That guard left her a terrible legacy: not just Brexit but a bankrupt health service, crippled welfare reform, London airports going nowhere, and rail investment distorted by HS2. Trade skills definition Small wonder Cameron got out so quick.

There are undeniable challenges ahead for British trade policy. Trade financing definition One is not to capitulate to the Brexit headbangers and neglect a new deal with the European Union. Trade certificate definition Such a deal would patently benefit both Britain and Europe. Foreign trade definition The British voted to leave the EU, not to oppose trade with Europe.

Equally foolish would be continuing to countenance Hinkley. Definition of a tradeoff in economics Downing Street knows what the Treasury knows and every energy pundit and commentator knows. Balance of trade in goods and services definition They know what the French know and the Chinese know. Trade cost definition They all know that Hinkley is a dud, a rip-off, a blunder. Global trade bank definition A bevy of gilded lobbyists may declare it a glorious symbol of eternal love between the Chinese and the British peoples. Definition of fair trade certified So is a good dinner.

For Britain to seal such a symbol by agreeing to massively overspend on electricity for a generation displays nothing but idiocy. Foreign trade investment definition May has rightly given herself time for reflection. The definition of international trade The kindest, boldest thing would be to bring that reflection swiftly to an end.

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