Australia WANTS to trade with CHINA Again !, page-27

That is true, but the loss of contracts involving commodities, whilst painful in the short term, eventually resolve themselves to a large extent as other markets are found.
The offset is the enormous longer term geopolitical loss to China where the CCP can say goodbye to making Australia part of their plan for regional hegemony. Both the Morrison government and the Opposition have clearly made sovereignty the paramount consideration, and we simply won't be bought out.