China Continues to Punish Australia By James Reed
It was beef yesterday, but now it is coal, so China seems to mean business. Thus, I wonder how long it will be before our political leaders are on their knees, as China the other day suggested?
“Chinese media has warned that Australian households and workers will 'suffer economic pain' as Beijing buys less Australian coal.
Coal is Australia's second-biggest export after iron-ore, bringing in $70billion last year - and China is the second-biggest customer after Japan.
But an article in the state-controlled Global Times newspaper on Monday warned that China is strengthening trade ties with other major coal producers including Russia, Mongolia and Indonesia as tensions with Beijing escalate.
'If Canberra stubbornly refuses to mend ties with China, Australian businesses could lose more of its market share to competitor companies of other countries,' the article warned.
The editorial said that 'Australian workers and households [are] set to suffer the economic pain, more acutely.'
In October Australian mining companies confirmed that Chinese buyers were requesting deferrals amid reports that Beijing was pressuring them to find other suppliers.
That month only 33 Australian coal ships departed for China, compared with 124 in June, according to mining.com.
But total departures were only slightly lower than in September and analysts believe this is because Australian companies sold more in other markets including Japan, South Korea and India.
It comes as China bans imports from a sixth Australian meat supplier without giving a reason.
Queensland meat company Meramist, based in Caboolture, was blacklisted by the China's General Administration of Customs on Monday.
China banned four of Australia's largest meat processors in May citing issues with labelling and health certificates and in August suspended imports from a fifth plant.”
Well, let them. Someone has to stand up to school yard bullies, so Australia is as good as any. But, at the end of the day, I doubt that we will have the guts. What I would really like to see is China ban its students from coming here and being poached.
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