HONG KONG SAR – Media OutReach<\/a> – 14 April 2021 – The China-Australia bilateral relationship
\u00a0<\/p>\n
The reasons for bilateral tensions between China and
The China-Australia bilateral relationship is multi-facet, ranging from
\u00a0<\/p>\n
A resilient Australian economy<\/b><\/p>\n
With China taking more than
\u00a0<\/p>\n
Bilateral relations
Chinese trade restrictions
\u00a0<\/p>\n
The full study is available here<\/a>.<\/p>\n<\/p><\/div>\n\n HONG KONG SAR – Media OutReach – 14 April 2021 – The China-Australia bilateral relationship
deteriorated sharply over 2020, with China imposing both formal and informal
trade restrictions on a number of Australian exports, including coal, barley,
beef, wine, cotton among others. However, Coface expects that Australia’s GDP
to be back to 2019 level as …<\/p>\n","protected":false},"author":1,"featured_media":14042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14041"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=14041"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/14042"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=14041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=14041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=14041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\ndeteriorated sharply over 2020, with China imposing both formal and informal
\ntrade restrictions on a number of Australian exports, including coal, barley,
\nbeef, wine, cotton among others. However, Coface<\/a> expects that Australia’s GDP
\nto be back to 2019 level as soon as this year. But there are growing concerns
\nthat an escalation of bilateral tensions will see China hardening its stance
\ntowards Australia and possibly start targeting Australian services exports,
\nparticularly in tourism and education which could see 2% of Australia’s GDP at
\nrisk. <\/b><\/p>\n![](\"https:\/\/release.media-outreach.com\/release.php\/Images\/Thumb\/500x0\/141849\/Coface-Image.png#image-141849\")
<\/b><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nAustralia<\/b><\/p>\n
\n
<\/p>\n
\nnational security, economics and trade to foreign policy and domestic politics.
\nTrade relations between China and Australia deteriorated when Australia’s
\nAnti-Dumping Commission extended anti-dumping duties on Chinese stainless steel
\nsinks on 28 February 2020 following an investigation into Chinese aluminium
\nextrusions. Between March and July last year, there were a further eight
\nanti-dumping actions against Chinese products, such as steel[1].
\nOn 19 April 2020, Australia pushed for a call for an investigation into the
\norigins of coronavirus, adding to pressure on China over its handling of the
\nCovid-19 outbreak. During May 2020, China imposed anti-dumping and anti-subsidy
\nduties on Australian barley imports into China, citing investigations that
\nstarted in 2018. China subsequently imposed tariffs on other Australian
\nexports, such as wine, as well as formal and informal bans on products ranging
\nfrom beef and timber to cotton and coal.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\none-third of Australia’s total exports, rising trade tensions are seen as a
\npotential threat to Australia’s economic outlook. However, iron ore, the
\nmainstay of Australian exports to China, has been spared in the ongoing trade
\ndispute, due to a lack of suitable alternatives. Meanwhile, despite China’s
\ntrade action, the Australian economy continued a solid recovery from the
\npandemic, registering two consecutive quarterly GDP growth in the second half
\nof 2020 as business conditions move towards normality following an easing of
\ncontainment measures.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nmay worsen further<\/b><\/p>\n
\n
<\/p>\n
\nso far have a muted impact on the broader Australian economy due to two main
\nfactors: first, the ability of some affected sectors to find alternative
\nmarkets, such as Saudi Arabia for barley, and Southeast Asian countries for
\ncotton, and second, top exports such as iron ore and natural gas were not
\ntargeted by China. With both sides interpreting the dispute through the lens of
\nnational sovereignty, the situation is unlikely to improve any time soon. We
\nexpect Australia’s GDP to be back to 2019 level as soon as this year. Future
\ndevelopment of China-Australia tensions will be closely monitored by Asian
\ncountries for guidance as to the extent of economic damage potentially suffered
\nshould they be caught in a similar situation. Furthermore, amid the ongoing
\nstrategic competition and political differences between the US and China, Asian
\ncountries will be hard-pressed if they are forced to choose between the two
\nsides.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"