The USA wants to balance trade with China; not the other way around. We are simply collateral damage, IMO. It jus happens that the strategy used by te USA to balance trade with China does the same thing for China with us: that is reduce our current China trade surplus from $60 billion to virtually zero over 2 years, IMO.
This is our greatest long tern economic risk, IMO.
We have relied on China to minimise our overall trade deficits since the GFC but Trump has put a spanner in the works for us. It will be interesting to see if Biden does anything to alleviate our China trade issue? IMO, he wont because Morrison backed Trump.
