Two years ago, Australia's rock lobster industry became a high-profile casualty in the trade war between Beijing and CanberraOvernight, the value of a trade worth more than half a billion dollars fell from the sky, dragging the wealth and the retirement plans of thousands such as Mr Colero down with it.Just five years earlier, he had been elected to chair the board of the Western Rock Lobster Council on a platform of assessing the risks the industry faced.
"We're all businesspeople and I'm a market-based person who believes in the market economy," he said."And if something does go wrong you've got to have something there to back you up … because sooner or later it will go wrong.— which has affected commodities including coal, beef, wine, barley, timber and cotton — has gradually faded from the public's consciousness., hopes are growing for a reset of the relationship.
Jorrit Gosens, a senior lecturer at the Australian National University's Crawford School of Public Policy, said Australia's iron ore trade to China was "the single most important trade relationship in global steelmaking".Dr Gosens noted Australia's iron ore exports to China made up almost half of all global trade in the commodity.– made up just 1.5 per cent of China's demand.
"With iron ore, I would not think they would even have a vision for, 'How are we going to get to zero imports from Australia'.James Bowen, a policy fellow at the Perth USAsia Centre, said industries which had so far been spared Beijing's ire could thank their importance to China's economy.
These people had no right to get fat and rich from draining our oceans of lobsters. They didn’t own the lobsters. Tough luck.
dk_mercer The oil industry has already diversified away from diesel imports ex China and a brand new Chinese refinery in Brunei ... to India and Malaysia
AUSTRALIA now has a new POSITIVE Federal Government with a different attitude and purpose for 'All' Australians and the ability to understand how important DIPLOMACY is to Australia.
No sympathy
Maybe profitable sales volume should be considered, either a limited market for a lot or a big market for less. The crayfish industry priced itself out of reach of average Australians just like the wool industry did by chasing big dollars.
Find other, more reliable, markets. Surely it doesn't match Australian values to trade with a country that runs industrial scale concentration camps, commits human rights abuses, thieves IP, and whose government repeats Ruzzian propaganda through their official channels.
Australia swallowed the bitter pill of its own making by allowing Scott Morrison vandaliseing the national interest to suit the liberal's self agenda. A heavy price and a good lesson to learn for albanesse.
hmm maybe I can get Lobster now 😆
They made catching lobster so expensive, buying up shinier & faster boats to get out and back quicker, by the time the Chinese market fell, the domestic market said 'f*** you, we're not paying that much!', and they didn't. Golden goose shat on its own nest. No sympathy.
Such a stupid BS story
I sincerely hope he voted for Scomo. His actions caused all the pain. He needed someone to demonize to take eyes off his piss poor performance.
Well that goes to show how greedy some business owners are in Australia. Can't see past the $$$$. Nothing lasts forever. I have no sympathy. Use some of those $$$ to employ a financial strategist.
It is also possible that 🇦🇺 could ban exports of Iron Ore to 🇨🇳 in the event of deteriorating relations with that country and pressure from the USA.
What is hard to understand about the wise saying, “Don’t put all your eggs in one basket”? It’s just crazy to rely on an obviously febrile market that’s driven by the Centralised power of the Chinese Communist Party. And when the President has Total control. Check their history!