Australia’s refusal to bend meant the Chinese approach of punitive trade measures was just not working
Save time by listening to our audio articles as you multitaskFew in Canberra expect China to rush to lift its embargoes on $20bn-a-year’s worth of Australian barley, beef, coal, lobster, wine and more. But bilateral communications, including military ones, may resume. That is a win. Australia and China are better off talking, said Mr Albanese—a line he has repeated often since coming to office at the head of a centre-left government in May.
Australia has done so and emerged stronger, though China is by far its most important trading partner. It helps that China still depends on Australian iron ore and gas. Indeed, the value of Australian exports to China is higher now than before the bans. At the same time, Australia has spread its export bets by seeking new markets. Once, 42% of its exports went to China, now less than 30% do.
Australia is now better informed about Chinese assertiveness and more united in guarding against it, perhaps especially in defence. Stabilising Australia’s relationship with China, the defence minister, Richard Marles, said recently, “does not mean we won’t also maintain a clear-eyed focus on our security.”
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