Singapore: Australian cattle farmers and abattoirs lost half a billion in exports to China in the last two years, cotton producers were down $870 million, copper exporters $1.5 billion.But the Chinese importers did not miss those products. Australia’s great Indo-Pacific ally, the United States, was happy to make up for the shortfall.The same happened with timber and coal. As Australia’s coal exports fell by $11 billion, the US added $1.8 billion to its usual load over the same period. Russia, Canada and Indonesia also sent more.Markets are unsentimental; when there is a gap they fill them. The US and Australia have made much of their united front on China’s economic coercion, but the truth is American exporters have been eating Australia’s lunch.
Source: Australia exports to China: new figures show Canberra caught in election trap as Washington and Beijing do business