Business
Australia’s dependence on China has never been so starkly illustrated – Sydney Morning Herald
The country where the coronavirus was first detected is now the sole major economy showing genuine signs of recovery.
It’s not just mining. It’s food and merchandise, students and tourists. On all counts, China is Australia’s number one market. Australia has been very good at doing business with China and very bad at diversifying.
That leaves it exposed. For all the federal budget’s domestic stimulus, it is notable how little it focuses on initiatives outside Australia’s borders.
The third largest item in the Foreign Affairs expenditure is $25 million to make sure prospective arrangements between state and te…
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