Business
Australia faces down China in high-stakes strategy. – Reuters
The government of Scott Morrison has reached a stark new view of China: It’s not just a top trading partner, but also a threat to the nation’s sovereignty.
So far, China hasnt mentioned iron ore as a potential target for reprisal. For good reason: Australia makes up 60% of Chinas imports of iron ore, crucial for powering an economy Beijing is trying to get back to full capacity after it was shuttered by the virus.
Despite Chinas bluster, it needs Australia, says former Prime Minister Malcolm Turnbull, whose relationship with Beijing became increasingly icy during his tenure from 2015 to 2018.
If China suddenly came across a huge supply of iron or…
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