And without Australian commodities, the Chinese economy also flatlines.
Australia produces more IO than China, Russia, and Brazil combined. Let's not forget the other elephant in the room....lithium. More than half of the world's lithium is here too and they need it for their manufacturing in renewables. China is addicted to IO and now lithium. You may think economic dependence only runs one way, but it absolutely cripples China too if trade were to stop.
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