Australia has faced down China’s trade bans and emerged stronger
The “lucky country” may be uniquely able to endure Chinese bullying
WHEN China launched a campaign of economic coercion against Australia in 2020, Communist Party bosses thought they had crushing leverage. The economies of the two countries—resource-rich Australia and commodities-hungry China—were complementary and closely connected. By massively curbing shipments of everything from timber to coal, lobsters, barley and wine, on pretexts including exaggerated concerns about trade practices and pest infestations, China imposed a A$24bn ($16bn) hit on Australia, representing 5.5% of its total annual exports. Yet it did not succumb. And like a surfer surviving a shark attack with no more than a lightly gnawed board, Australia is now emerging from three years of Chinese bullying in remarkably good shape.
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This article appeared in the Asia section of the print edition under the headline “Lucky for some”
From the May 27th 2023 edition
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