China Bid To Weaponize Trade As It Buys Australian Copper, Cotton

China’s bid to weaponize trade by freezing imports from countries it regards as hostile has been shattered as Beijing ran to Australian posthaste to buy cotton and copper despite its import ban, Su-Lin Tan reported for the South China Morning Post (SCMP).

Photo Insert: A copper mine in New South Wales, Australia

Global supply shortages and political conflict forced China to turn to Australian imports, but there are few signs the trend will continue, Su added in an analysis published.

Beijing has targeted a number of Australian exports, including barley, beef, and wine despite its policy of banning imports from Canberra based on phytosanitary violations, unfair pricing, and others.

It is also a big buyer of Australian iron ore and coal. Roughly 1.5 tons of iron ore are required to produce one ton of steel.

China stepped up imports of Australian cotton and copper this year, despite imposing an unofficial ban on the products last November.

China has imported US$30 million worth of Australian copper concentrate and increased purchases of cotton from the country amid international sanctions over Xinjiang, despite unofficially banning the products in November last year, Chinese trade data show.

Chinese importers also snapped up the lion’s share of Australia’s bumper wheat harvest for the 2021-22 season, making it the country’s largest buyer just as global supplies fall.

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