Once the Chinese have their West Africa iron ore ready, we are going to be dumped.
And the BRI will allow them to secure their agricultural goods from Central Asia (people just don't realized how much agricultural goods are produced from Central Asia); oil from Iran and Russia; and raw minerals like iron ore from Africa. At best, we have 12 to 24 months.
Then, we will know what it feels like to have recession after recession.
Going to have a black hole of $70B each and every year after that.
At the moment, universities are feeling it, as Chinese students are not returning - that's about $32B a year loss. They are choosing NZ instead.
When the sugar hit from the stimulus runs out, our economy will feel the effects from the lost of capital inflows from these foreign students.
What many have NOT realized is that many doors were opened to us, because we were Aussies and Not American (one of the main reasons why we have had 29 years of trade surpluses with China).
Now, they are treating us like we are part of America. We have not shown we could set our own independent policies (unlike NZ).
I am hoping for a change in policy or a change of Gov in the election. That looks unlikely in the short term.
