https://asiatimes.com/2021/05/australia-lar...war-with-china/

Australia largely winning its trade war with China
China is spending more than ever on Australian imports despite punitive trade restrictions on coal, barley, meat and wine

PERTH – Australia is often blamed for putting all its eggs and everything else into one basket then shipping the lot to China.

Those who worry about Beijing’s resultant leverage over Australia may feel vindicated after the travails of 2020 and 2021, but the trade war rooted in geopolitics hasn’t net-net hurt the Australian economy or its crucial commodity exports.

Indeed, China is spending more than ever on imports from Australia, given its reliance on iron ore and liquefied natural gas (LNG), two commodities commanding ever-higher prices on global markets and for which Australia is the world’s largest exporter.

So far China has hit Australian coal, barley, meat, lobsters and wine with punitive trade measures, a tit for tat response to Australia’s call for an independent investigation into the origins of the Covid-19 pandemic that by all credible accounts started in Wuhan, China.

Australia’s A$1 billion wine export industry reported a 96% drop in exports in the first quarter of 2021 after Chinese anti-dumping sanctions hit profits in the fourth quarter of 2020.

After the recent announcement of an “indefinite” halt of the China-Australia Strategic Economic Dialogue, China is now apparently moving beyond beef and booze to target Australian LNG exports.

A Bloomberg report citing unnamed sources said that two second-tier Chinese LNG importers have been told by Beijing not to take any Aussie cargoes of the fuel for a year.
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Australians very proud they are winning the trade war with China, seething and angry China now seeking revenge, will plan to diversify liquid gas from Australia. I think a lot of LNG suppliers will benefit from business especially Malaysia since we also supply to China. I think more order coming from PetGas, anyone buying this stock? It will rise.

Normally LNG field have fixed customer....china will have difficulty getting alternative....

Not impossible but china may need to buy at higher price in spot market.

Seriously, is it me who cannot understand what the article was trying to portray: was it Oz winning a trade war OR will face even more trade restrictions from CCP?

On one hand, the article admitted the current restrictions already hit Oz goods. Then on the other hand claimed that import of Oz iron ore and LNG increased, only to defeat that "win" by reporting CCP will also move against those commodities.

Lol. Read the article again. They cut everything except LNG and iron ore. Now they are in the process of cutting LNG and importing more iron ore for their development. What the article didn’t tell you is China is working very hard to cut both in the coming years

Iron ore will be the last link they will cut, because the alternates they are building in Africa, Brazila do Paupa New Guinea is not ready yet. Once it is done, we will revisit this article again.

TS fail in English, not you.

Seriously Mods should kasi banhammer TS a few days to chill instead of trolling in the forum with nonsense threads.

Malaysia stand to benefit, we already supplied large quantity of LNG to China. I think recently I read article, China also trying to get LNG from the -STANS nation and relationship with Saudis and Iranians.

They already trying to diversify many products from Australia and the funny things, some of those product they got it from the 5 eyes, like Barley, stop taking from Australia, take from US, dairy, stop taking from Australia, take it from New Zealand.

Except things like Coal, LNG still dependent and paying higher price. But I think eventually it will shift as well.

The reason is simple, it's geopolitic. Australia is the staunches US ally in APAC more so then Japan. China cannot hit US directly and China can surely whack Australia and since it can, it will do so.

I'm teaching Malaysian how to gain, when Big countries fight, we as Malaysian should not involve too much, we must understand their motivation and politics behind. We do our OWN interest....our own survival. When certain market is lost somewhere, we try to win the market if we have the goods. Make good relation.

Why we annoy India when they consume large part of our palm oil, why go and antagonize China when we selling durians to them. Australia provide good higher education, why we go create trouble with them.

But we need to understand and aware our surroundings....and find niche to benefit our country.

Yes Malaysia will benefit in the short term until babi RedChina park their ships in our EEZ and claim unilaterally that our gas fields are now THEIR gas fields.

while I like how the iron ore price is rising and how the AUD is gaining against most major currencies

I'm very much sure it's not sustainable and has created a massive inflation even within Australia itself since we buy most of our stainless steel from China

I've always wondered.. do we not having our own raw steel refinery and milling? Is it an economic of scale problem that is preventing this industry from taking off?

wining ? i wonder how do u justify australia wining ? its china that shutting down trades with australia, its australia that forcing china to open market, its australia that threaten china with military while china just pretend cant hear, cant see.

after china start mining from new iron mines in africa, china will also stop getting iron from australia, which australia increase the price few times, after that, australia will be completely out of the picture, no money in, china trade replaced by allies.

if wining trade war means no trade, i guess you are right.

There isnt much australia can play other than commodity, real estate & education. One of it already mati, real estate so-so.

With the iron ore prices rising, the nominal price to construct a decent house had increased(normal build $550k exclude land).
Majority steel beams/channel construction will have to come from china, they dont really make stuff here. Cost of steel will eventually raise up. Once certain mines had sucessfully established, and they stop taking stuff from oz. It's time to keep playing real estate, fry up the price till to the roof.

Now they complain house affordability got worsen every quarter. Plus, oz always have the mindset of 'I am the best in the world'. I really dont know where they get the tongkat mindset from and really dont know what they trying to do in canberra.

This post has been edited by Stefanov: May 15 2021, 09:34 AM

i guess china's selling price is lower than our production cost, will you produce yourself if buying from china is cheaper than making yourself ?

China source from south america, east europe, africa, and south asia and russian

https://www.industryweek.com/the-economy/ar...illion-oil-deal

Aussie tend to lose in this game

Many claims there, may the bigger ships win.

Australia won't starve one la, they can still trade with others and build market access. Their big neighbor Indonesia, India and US, NZ still trading. It takes some time, but time will pass. It's also ensure China not too dependent on Australia or vice versa. This will help them avoid unnecessary arguments at the moment. Trading has up and down cycle.

It would be foolish for China to put all iron ore basket into Australia or Australia put all their wines to China. Diversify and backup plan is good.

There are many things that produced by australia difficult to find alternative market, like lobster, wine, wood, and student, china has 1/5 world population, unless india population is as rich as china, else there is market as huge as china. Even there are existing country can consume them, they have to stop getting from existing suppliers, there is no reason for them to stop getting from existing supplier.

starve or not i dont know, ppl are losing their job is all i know.

anyway there is no need to argue, we can see and compare australia total export in like another 2 months, compare with last year.

This post has been edited by narf03: May 15 2021, 09:56 AM

Let's see who can laugh till the end

australia, thank you.

Hahaha.
I like people like u. Suka suka call orang babi, tapi sendiri pun tak ada boat to chase them away.... opps...