Australia's Golden Goose unruffled as China crises come and go
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China has been a major source of trade for Australia, but experts argue that Australia is not dependent on China and its economy is open to the world. The collapse of China's stock markets and the failure of developer China Evergrande have raised concerns, but Australia's exports to China have remained strong. In December, goods exports to China reached A$18.5 billion, up 14.7% from the previous year. Iron ore, Australia's biggest export earner, has many buyers beyond China and generated A$187 billion in earnings in the year to December. Other exports have also benefited from improved diplomatic relations between Beijing and Canberra. However, tourism and student numbers from China have declined, but the gap has been filled by inflows from other countries. Australia is not heavily reliant on inward investment from China. The constant concerns over China have weighed on the Australian dollar, but mining profits have benefited. Experts argue that there is no clear disruptive force from China to Australia.

#Australia #China #Trade #Exports #IronOre #DiplomaticRelations #Tourism #Investment #AustralianDollar #Mining

https://www.thestandard.com.hk/breaking-news/section/6/213153/Australia%27s-Golden-Goose-unruffled-as-China-crises-come-and-go