China’s policy of punishing Australia by putting economic pressure seems to be failing. Three years ago, China imposed a trade ban on Australia due to the tension between the two countries. The reverse effect of this is visible in China. This was stated in a report by the Europe Asia Foundation.
The report released by the Europe Asia Foundation said that China was creating pressure on Australia to harm its economy and change the national security policy.
China imposed a trade ban due to Australia joining the anti-China block.
What Harm Did China Get From The Trade Ban?
China’s trade ban did not seem to affect Australia, but Beijing’s economy looked helpless. China was seen struggling to meet its needs. For this reason, China was allowed to import coal from Australia by relaxing the trade ban.
China has imported 41.17 million tonnes of coal from Australia, a year-on-year increase of 151 per cent and the highest in the last three years, reported news agency ANI. The import of iron also saw a jump of 24.3 per cent in March.
Australia Explores New Markets
The import of coal, alcohol, barley and lobsters from Australia was banned under the trade ban imposed by China. At the same time, it has not significantly impacted Australia’s economy. Australia has sought markets for coal exports in Europe, Malaysia, South Korea, Taiwan and Vietnam.
Let me tell you Australia has been very vocal about the increasing influence of China in the Indo-Pacific. He has also been openly criticizing China on many forums.
