Business
China could cut off Australia’s $136 billion iron ore exports in just a few years, analyst warns – NEWS.com.au
China could cut off Australia’s $136 billion iron ore exports in just a few years, analyst warns
When it comes to saving Australias economy from the grips of the pandemic recession, its hard to overstate the importance of iron ore.Buried beneath the red earth of Western Australia’s Pilbara region, our biggest export is currently bringing in $136 billion a year into our economy, according to the Treasury.
It accounts for about 20 per cent of all of our exports, and the iron ore we ship from the Port Hedland and Dampier ports in the Pilbara is worth about 5 per cent of our entire GDP.
China –…
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