Business
China ‘needs us just as much as we need them’ – The Australian Financial Review
The record-breaking 46 per cent of goods exports shipped to China overstates how dependent Australia has become on its biggest export market, trade economists say.
“The iron ore goes to China and China uses it to make steel, but China is a big exporter of steel to parts of Asia and America,” he said.
“Even if China closes to us, they will get the iron ore from Brazil or Africa and then our iron ore would find its way to Korea or Japan.”
Australian iron ore accounts for more than 60 per cent of China’s ore imports.
University of NSW Business School trade economist Tim Harcourt said many countries had tried to become less dependent on China, and that Beij…
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