The Australia-China bilateral relationship was based on strong economic and trade complementarities and longstanding community and cultural links. Chinese investment into real estate in NSW, WA, Queensland, while Australia was a haven for Chinese students and the young generation to migrate to a beautiful country far away from the Communist mindset, compulsory Army training, and rigid control of fundamental rights. In 2018 annual two-way trade between China and Australia reached almost 215 Bil AUD. Iron ore, gas and coal make up the bulk of Australian exports to China (more than AUD 79 billion), but Australian service industries – was led by education and tourism. In 2021, bilateral trade between the two countries amounted to approximately US$231.2 billion, a rise of 35.1 percent year-on-year, however, relations have soured dramatically in the last 5 years and militarily Australian strategy had hardened against China forcing Australia to join AUKUS-The UK, US and Australia have announced a historic pact to counter China. Emerging cooperation between India and Australia is widely understood as a response to the China challenge that is facilitated by multilateral groupings like the Quad. But the recent signing of the Australia–India Economic Cooperation and Trade Agreement (ECTA) on 2 April suggests the bilateral relationship is much more substantial.
There can be no problem for the importing country in light of the availability of a large group of countries producing goods and services and competition between countries to increase their exports, and most countries are trying to increase exports by building relationships and making big concessions until there is an increase in exports to the producing country
As for the importing country, it can compensate for its import with ease, and even there may be a benefit for this country to be in front of the fact that it must produce the commodities it imports.
Therefore, my point of view is that China needs to continue to increase its exports to Australia, and even Australia needs China, because China imports gas from Australia. Therefore, ending the relationship will harm both parties, but it is possible for the two parties to easily compensate for the deficiency that occurs to it.
In contrast to the relationship between Europe and Russia, Europe's losses cannot be compensated because it relies heavily on Russia
https://www.aph.gov.au/sitecore/content/Home/About_Parliament/Parliamentary_Departments/Parliamentary_Library/Publications_Archive/CIB/CIB9697/97cib23
Hi Mr. Chuck. Thank you for your research.
Your referred paper was in the context of the 1996-1998 era lot has happened after that. Australia feels that China has aggressively moved on physical domains as well as internally by trying to manipulate politicians and the final straw on the camel's back was the slapping of duty, IT espionage, and its policy of not having any regard for global opinion or even the ICJ. Australia is a nonnuclear state purely due to its people accepting nature's residence and this cannot be misunderstood by anyone as defenseless or will not fight. it is here that probably Australia miscalculated the foreign policy of China and now Australia has sought to realign its dependence with other allies.
Australia trade relation specially with China shows the movement from export to import or consumption driven growth. Australia terms of trade is also likely to fall due to export’s reduction, resulting downturn pressure on Australian dollar.So Australia should maintain trading partnership with China by developing two way investment proposal.
- Badges
- Science topic
- Similar topics
- Geoscience
- Asia
- India