Predictions China may reduce its ‘reliance’ on Australian commodities
Australian Industry Group CEO Innes Willox says there are growing predictions China may reduce its “reliance” on Australian commodities.
“There’s some estimates kicking around that by 2030, China could be sort of very much reducing their reliance on us for our commodities on coal, iron ore, and the like as they stockpile and also themselves diversify their markets for those commodities,” he told Sky News Australia.
Predictions China may reduce its ‘reliance’ on Australian commodities
“It’s terrific for our terms of trade, but overall, I mean we’re still seeing bans on some parts of the Australian economy, lobsters for instance are still now allowed into China at the moment, there’s still some restrictions on beef.”