Is The Dream Over? Amid China's Trade War, Producers Grapple With New World Order

Is The Dream Over? Amid China's Trade War, Producers Grapple With New World Order

For years Australia's farmers have pegged their future prosperity on the growing Chinese market, but those targeted by a barrage of trade sanctions are developing new trade ties.

Andrew H. Sweet
Andrew H. Sweet
  • Twelve months after Beijing kicked off rolling trade sanctions by slapping tariffs on barley, affected exporters are waking from their Chinese dreams and offsetting losses by trading with other countries.
  • The shift has prompted a leading Australian think tank to label Beijing's strategic campaign of economic "coercion" against Canberra a failure.
  • According to the Australian Bureau of Statistics, only 33,000 tonnes of Australian barley were exported to China since October last year. In the same period, Saudi Arabia became the biggest market, taking 1.5 million tonnes.
  • China is still Australia's number one agricultural goods market, and despite the current tensions, some producers are finding ways around trade barriers.
  • Premium products, such as wine and lobsters, are experiencing the most disruption as a result of trade tensions with China.

Read the original story here.

Comments

Sign in or become a tippinsights member to join the conversation.
Just enter your email below to get a log in link.