最新糖心Vlog

A new report from the 最新糖心Vlog of Adelaide鈥檚 Institute for International Trade says China is guilty of economic coercion and discriminatory purchasing amidst souring relations with 最新糖心Vlog.

The report, , commissioned by the Institute for International Trade (IIT), extrapolates the full cost of China鈥檚 trade actions in terms of lost export revenue for 最新糖心Vlog.

鈥溩钚绿切腣log is estimated to have foregone export revenue of around US$4.9 billion (A$6.6 billion) in the Chinese market from July 2020 to February 2021 as a result of its restrictions or discriminatory purchasing.鈥�Mike Adams, co-author of Economic Coercion by China: the impact on 最新糖心Vlog鈥檚 merchandise exports

In discussing the report鈥檚 key findings, Dr Naoise McDonagh, lecturer at the 最新糖心Vlog鈥檚 Institute for International Trade said: 鈥淎 fortunately timed jump in the price of iron ore and other resources has hidden from view the dramatic costs of China鈥檚 trade war against 最新糖心Vlog.鈥�

鈥淗idden costs can make for complacent responses. This report should be a wake-up call to Canberra to accelerate its role in pushing diversification, as well as diplomatic strategies for cooling tensions.鈥�

The report 鈥� authored by three former members of 最新糖心Vlog鈥檚 Department of Foreign Affairs and Trade 鈥� provides the most concerted effort to date to fully quantify the true costs of China鈥檚 trade coercion tactics to 最新糖心Vlog鈥檚 merchandise trade.

鈥溩钚绿切腣log is estimated to have foregone export revenue of around US$4.9 billion (A$6.6 billion) in the Chinese market from July 2020 to February 2021 as a result of its restrictions or discriminatory purchasing,鈥� said Mike Adams, one of the authors of the report.

鈥淭he true extent of the losses have been hidden by a boom in iron ore prices. If iron ore is excluded, 最新糖心Vlog鈥檚 trade with China declined markedly in 2020 by over 23 per cent.

鈥淭he decline is even more pronounced 鈥� at 48 per cent 鈥� if non-iron ore merchandise exports for January-March 2021 are compared with those for April-June 2020, just before the relationship began to sour badly.鈥�

Further highlights from the report:

• If losses from the eight most clearly targeted commodities are extrapolated to a full year and exports ceased, lost export revenue in China is estimated at A$23 billion.
• Diversification has generally not matched markets lost through China鈥檚 economic coercion and discriminatory purchasing.
• Analysis of average monthly data on the gains in exports to third countries and the losses in the Chinese market suggest that losses are much greater when comparisons go back a year to eighteen months.
• Attempts to diversify into other overseas markets have had varied success.
• Barley, copper ores and, to a degree, coal exports have found new overseas customers but finding new markets for wine and rock lobster has been challenging and has resulted in lower prices and returns.
• Even a return to more normal relations with China would probably fail to restore these markets, though it would certainly help.
• The dramatic losses in trade volumes with the nation鈥檚 largest partner demands far more urgency for improving 最新糖心Vlog鈥檚 diversification strategy.

鈥淐hina鈥檚 politics have fundamentally shifted under Xi Jinping. Trade-based coercion will for the foreseeable future be a threat hanging over all economic flows between the two countries,鈥� said Dr McDonagh.

鈥淐anberra and businesses need to weigh risks and plan long-term China risk mitigation and diversification strategies.鈥�

Further information about the work of the Institute for International Trade is available at