Hi Dex if it worked it would be fine. However while you put this out there I doubt you think it could happen successfully.
Common sense tells me that if we ever allowed diplomatic relations to sour to the point that we no longer could sell iron ore to China no country would be willing to take our ore to on sell it to China at inflated prices. Such actions would likely be contrary to international law and it could risk jeopardising the whole of the co-operative market structure in the world. Furthermore, because we are a small population country we would be vulnerable as frankly I don't think other economically significant countries are going to risk the massive trade they have with China and would probably welcome taking business from us.
I recall how economists have often stated that even the prospect of China cutting back on its production at any given time could hurt our economy and key Australian Stock Exchange listed companies. So I guess ending Trade altogether with China could result in economic disaster for Australia. Beats me why it sounds like its Australia that is making itself vulnerable rather than our competitors for the Chinese commodity and ag markets. I well bet that whatever market is lost to Australia because of the lack of effective diplomacy that lost market will be willingly grabbed by other countries at Australia's expense. Even the USA will do that imo.
