China's Plan to Intimidate Australia Fails

A top US official has embarrassed China in a casual remark by pointing out that the Asian superpower’s revenge on Australia hasn’t gone according to plan.

For more than a year, the communist nation has imposed harsh trade restrictions on Australia in a move that it vowed would cause “economic pain”. Iron ore, barley, beef, coal, copper, cotton, gas, lobster, sugar, timber, wheat, wine and wool have been targeted since relations between Australia and China soured in 2020, after Prime Minister Scott Morrison called for a probe into the origins of Covid-19.

Despite being embroiled in this trade war with China, who is Australia’s biggest importer, we still made record earnings – a fact which has not escaped the attention of US Secretary of State Antony Blinken. On a visit to Melbourne on Thursday, Mr Blinken said to The Sydney Morning Herald and The Age: “I think China has lost more than Australia has in its efforts to squeeze Australia economically.” He added that the CCP would surely be “thinking twice about this in the future”.

Last year was, ironically, Australia’s best 12 months for trade in the resources sector. The latest Resources and Energy Quarterly report found that the Australian sector will hit $379 billion by the end of the 2021 financial year. That’s a massive 22 per cent jump from last financial year’s $310 billion in earnings, which in itself was a record at the time.

Full article at the link ... https://www.news.com.au/finance/markets/world-markets/us-official-says-chinas-revenge-plan-on-australia-has-failed-miserably/news-story/48a82387dd688debb6a7b5636ecf2cad

China is upset.  Boo hoo poor Pooh.  

In the past couple of weeks China has accused Australia of spreading Covid in Tonga simply for providing aid,  attacked Australia's decision to block a Chinese company's $300 million bid for the Australian construction firm Probuild threatening it undermines trust and now they are calling Aus desperate, stupid and ignorant for hosting the Fourth Quad between Aus, US, Japan and India to discuss the growing international tensions in the Indo-Pacific.

China is not happy.  China can go and get stuffed.



^^^ this CCP mouthpiece is one evil little weasel.

Wynken Blynken and Nod one night 
sailed off on a wooden shoe.......

That is great news.

............. However, Australia bounced back quickly after finding alternate markets in India, Japan and South Korea, among others. ................

China may find it hard to regain those imports.
We might be quite happy selling to India, Japan and South Korea, and others.
Those new customers might be better to deal with than Chine WERE.
Sometimes it is not just the money. There may be trust, cultural differences and a past history to consider