You can buy cheap stuff from China - that's a gain for the average Australian.
They can buy cheaper stuff from us, thats a gain for the Chinese.
This cycle repeats and everyone gets more of what they want.
Pretend I had some Coke, and you had some Fanta. I want your Fanta and you want my Coke. Is it better we just swap cans, or both of us swap cans and each government takes a sip?