Beijing Has No Choice but to Buy Australia’s Iron Ore: Economist

Despite politically motivated trade sanctions on Australian goods, Beijing has been left buying Australia’s expensive iron ore by the boatload. Professor of Economics at the University of New South Wales (UNSW), Richard Holden, said that Canberra holds a great deal of influence over Beijing, who has nowhere else to turn to meet its ravenous iron ore demand, even if it wanted to. “We’ve actually got quite a lot of leverage with China in this instance, which is that they need a lot of iron ore,” Holden told The Epoch Times. “And they don’t buy iron ore from us because they…

Source link : Beijing Has No Choice but to Buy Australia’s Iron Ore: Economist by The Epoch Times

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