Australia’s prosperity is linked to China’s economy whether we like it of not. A study of the below portion of the infographic above.
China is the world’s second-largest economy. Its slowdown will has effected trade around the world. Australia was once closely tied to Britain and the British Commonwealth. It was then tied to the United States. Australian currently relies on China for one-third of its trade. At the same time, Australia’s major economic sectors rely on Chinese support. Chinese investors invested $17.4 billion in 2017.
China’s economy has taken a beating as a consequence of a trade war with the United States. Before Covid, Australia considered itself to have a ‘healthy’ trade with China. There was a measure of balance as the trade was two-way in our favour. All the media hype about Wuhan, has reversed the conversation to “excessive dependency on China”. If we criticize anybody but a white Christian, we are “Racist” and guilty of ‘Hate Speech’, but criticism of China is no ‘de-rigour’. So what caused the change in attitude?
Since this graph, China now accounts for 38 per cent of Australian exports, worth $117 billion. [1] This infographic from the Australia China Business Council gives greater detail.
Their webpage is useful reading, as it gives a high level of detail:
