May 15 2021, 07:54 AM
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.
QUOTE(catherintherye @ May 15 2021, 07:34 AM)
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.
...
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.
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.
...
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.
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