China boycotts imports from Australia; Australia's economic exports soared after a year

Published Jun 9, 2021

Tridge summary

Australia has successfully navigated through China's trade restrictions, diversifying its markets and experiencing growth in GDP and exports. Despite China's efforts to influence Australia's criticism by imposing tariffs and bans on various commodities, including coal, Australia has found new markets, particularly in Indonesia and Russia. The article also discusses China's strategies to reduce its dependence on Australian resources, such as promoting self-sufficiency and developing overseas resources, but these efforts have increased costs and disrupted global trade. Additionally, the article highlights China's move to curb steel exports and the potential impact on the global steel market. Australia's shift in policy towards China, including increased vigilance and stronger diplomatic and military postures, is noted, with a focus on strengthening cooperation with democratic countries and enhancing economic and military security in the South Pacific region.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[The Epoch Times, June 9, 2021] (Reported by Epoch Times reporters Luo Ya and Lin Cenxin) In May last year, Beijing launched a trade war against Australia and closed the import of a variety of commodities. Since then, Australia has made every effort to explore alternative markets and achieved results . According to the Australian Bureau of Statistics announced last week, both gross domestic product (GDP) and exports increased in the first quarter. On the other hand, the CCP wanted to use a series of trade penalties to force Australia to change its tough attitude to criticize it, with little effect. On June 9, Australian Prime Minister Morrison made a speech before his visit to Asia and Europe and prepared to attend the summit of the leaders of the "Seven Major Industrial Countries and the European Union". He emphasized that the risks in the Indo-Pacific region stem from the strategic competition between the CCP and the free world. Allies defend the free world order and jointly ...

Source: Epochtimes