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Australia facing economic coercion from China

by Mike Robinson

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© Reuters. Josh Frydenberg MP is Treasurer of Australia and talks to Paul Cosentino (specialist trader) on the New York Stock Exchange’s floor, New York, U.S.A, June 19, 2019. REUTERS/Brendan McDermid/File Photo

SYDNEY, (Reuters) – The Australian Treasurer Josh Frydenberg said Friday that Australia was subject to Chinese “economic coercion” through trade disputes. However, he argued that the Asian giant will continue to require its resources exports.

Frydenberg spoke at a Reuters Breakingviews conference and said that China would have a hard time replacing Australia’s massive iron ore exports. Australia is the biggest country that exports the mineral. It is also one of its largest exporters.

China has imposed tariffs on Australian wine, barley and coal imports from Australia due to deterioration in its diplomatic relations.

Frydenberg stated that “We were on the receiving end” of Chinese economic coercion.

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