Australia seems hell-bent of damaging its economic security in the interests of being in the vanguard of a growing international anti-China “cabal”, writes William Briggs.
Australia, China and the weaponising of trade
Tag: Trade Wars
“U.S. farm bankruptcy rates jumped 20% in 2019 – to an eight-year high – as financial woes in the U.S. agricultural economy continued in spite of massive federal bail-out funding, according to federal court data.”
China has warned it will have no choice but to retaliate after US President Donald Trump announced he will impose 10 per cent tariffs on $US200 billion worth of Chinese imports.
Australia is one of the best placed countries in the world to reap the gains of the likely trade diversions. For example, Australian beef producers will be much more competitive in exporting to China as their American competitors have to grapple with the 25% tariff on their beef. On the other side, as China raises tariffs on soybeans, Australia could buy this product more cheaply from US farmers keen to find new distribution channels.
via Move over Canada and EU, Australia is best placed to benefit in the US-China trade tug-of-war
That humble device you may well have lying around your desk has been the object of China’s long and frustrating quest.
Source: Finally, China manufactures a ballpoint pen all by itself
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