CEOs urged to grow China trade, despite coercion threat

News Snapshot:

Australia's peak business lobby has played down concerns over Chinese economic coercion, saying increased trade between the two nations is actively encouraged. Business Council of Australia chief executive Bran Black said business leaders should continue to pursue diversification as an "inherent good in and of itself" while also strengthening ties with China. Australia's economic reliance on China was exposed during the COVID-19 pandemic, when Beijing imposed restrictions across $20 billion worth of key exports over political grievances with Canberra. At the time, Australia pursued a policy of trade diversification, successfully making up much of the trade shortfall with increased exports...