China is said to account for around one-third of Australia's export income.
This may not continue into the future.
Given the growing tension between Australia and China, caused in great measure by Australian Prime Minister Scott Morrison acting as US President Donald Trump's annoying little barking dog snapping at the heels of Xi Jinping, it is possible that in 2021 Australia could face over $105 billion in lost trade with China.
The Monthly, 15 December 2020:
…..Beijing appears to have officially blacklisted Australian coal for the foreseeable future. The Chinese government sure knows how to hit where it hurts. Australian coal exports to China were worth $14 billion last year, and, for the many coal-lovers in the Coalition, the one argument for the industry’s continued existence – the financial one – has just been crushed. It was hard enough justifying a project such as Adani’s Carmichael mine before; now it looks ridiculous. Trade Minister Simon Birmingham has urged China to clarify the reported ban, calling it unacceptable and discriminatory, while Scott Morrison somewhat hopefully called the reports “media speculation”, and warned that a blacklisting would “obviously be in breach of WTO rules and our own free-trade agreements, so we would hope that it is not the case”. It’s a lot more than media speculation, of course. And it’s hardly coincidental that this news has arrived hard on the heels of the stoushes over Australian iron ore. Where is all this heading?
Australian businesses are going to suffer, and people are going to get hurt. Journalist Anna Krien has been tracking a terrible situation involving sailors marooned off the coast of China, on ships full of Australian coal. For up to eight months, these ships have been unable to offload their cargo into Chinese ports due to an informal government ban. “China doesn’t want it. The seller won’t leave. A game of chicken except these men’s lives are at stake. Three are on suicide watch,” Krien reported via Twitter. “Their medicine has run out. The water they are being supplied with is bad – causing rashes that won’t heal and [are] pus-filled. They have families. One sailor’s father back home in India has died, his mother is dying.”
Some of the stranded seafarers haven’t been allowed to disembark for 20 months due to COVID-19. Do Birmingham, Morrison, Canavan, Pitt and Payne care about these workers? Does the Minerals Council? Let alone the hundreds of thousands of workers in the other sectors hit by China’s abrupt strikes on Australian products…...
No comments:
Post a Comment