General
Impact of China sanctions ‘limited’: study
The impact of myriad Chinese trade sanctions on Australian goods in the past year has been “quite limited”, with most exporters managing to find other markets, according to a new report.
China has targeted Australian beef, barley, coal, copper, cotton, seafood, sugar, timber and wine.
Before the sanctions, these exports were worth about $25 billion in 2019, or 1.3 per cent of gross domestic product.
As of the end of January, the value of these exports to China had dropped to about $5 billion a year, the analysis by Lowy Institute chief economist Roland Rajah shows.
But most exporters — barring wine and beef producers — appear to have managed to shift their goods to markets other than China.
“Looking at exports of barley,…
