At yesterday’s Five Finance Ministers meeting, Treasurer Jim Chalmers joined his counterparts from the US, UK, Canada and New Zealand to discuss dealing with the ongoing effects of the war in Ukraine and COVID-related supply chain issues. Overnight, the World Bank said it’s worried the global economy is “perilously close to falling into recession” because of those problems. Chalmers also took the opportunity to call for international cooperation in the face of the “threat and use of economic coercion”. Cue China’s ambassador to Oz Xiao Qian to step up to the plate… He fronted a rare press conference yesterday to warn against allowing our differences to “hijack” the relationship. He called 2022 an “extraordinary year” and praised the Albanese Government for a “reset” in the diplomatic relationship. Onwards and upwards…