Home World News China Threatens Australia’s Iron Exports After COVID-19 Enquiry

China Threatens Australia’s Iron Exports After COVID-19 Enquiry

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Relations between both nations Australia and China are getting sour day by day due to the Coronavirus. The Australian government has been pushing for an international inquiry at Wuhan ( from where COVID-19 originated ).

But the Chinese government is not keen on letting any other country enter in their backyard for investigation. Earlier, the Chinese government warned that they would be boycotting Australian products if they force for research.

Now, China is threatening to stop Australia’s $63 Billion export of Iron to Beijing. They termed it as a “Wake-up Call” for the Australian government and also included that Australia’s trade can be replaced by some other country too.

Source| Sound Health And Lasting Wealth

Australia’s top trading partners:

  • China
  • Japan
  • Republic of Korea
  • Singapore
  • United States
  • India

Australia’s top goods exports:

  • Iron ores and concentrates – $96.57 billion
  • Coal – $64.35 billion
  • Natural gas – $48.8 billion
  • Gold – $23.37 billion
  • Beef – $10.8 billion
Source| China and Japan are the biggest export markets for Australian beef.(ABC Rural: Kim Honan)

China Intimidates Australia Over Iron Core After COVID-19 Inquiry| World News

With the Australian government trying hard to do an investigation in Wuhan has raised concern for themselves as China is threatening to stop the trade of Beef, Barley products and Iron which could lead to enormous losses for Australia.

China has started taking actions already as they have boycotted the export of meat products. The trading partners who have been affected by the boycott are:

  • The Kilcoy Plant
  • Beef City – Toowoomba
  • The Dinmore Meatworks – Brisbane
  • Northern Co-Operative Meat Company – New South Wales.

These companies are profoundly impacted after boycotting since 30 per cent of the meat was exported to China. Similarly, the Barley producing Farmers and Industries are facing the heat of Boycotting from China.

It has been challenging to maintain the relationship between Australia and China since Australia’s Prime Minister Scott Morrison has been persuading for an international investigation in Wuhan.

Australia And China Trade at Risk after Covid-19 Enquiry

Source| ABC News

This chart uses a logarithmic scale to highlight coronavirus growth rates. Read our explainer to understand what that means — and how COVID-19 cases are spreading around the world.

Industrial experts still believe that China can boycott everything, but for sure, they will not be boycotting the Iron products.

Secondly, the Australian government has no regrets over the demand for investigation in Wuhan. Mr Morrison signed off stating trade has been political with China for all the years.

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