Australia Learns There’s No Replacement for the Chinese Consumer
Spat with China leaves wine merchants to seafood sellers facing hard slog to find alternative markets
The Sydney Opera House and the Sydney Harbour Bridge.
Photographer: Lisa Maree Williams/BloombergThis article is for subscribers only.
Australia has spent big to attract swathes of Indian tourists to its shores, signed a free-trade deal with post-Brexit Britain and uncovered new Middle East markets during its 30-month trade rift with China.
Still, outside iron ore and other key commodities, there's been substantial pain for exporters. For a small and open economy like Australia's, branching away from the emerging global superpower is easier to imagine than realize.