Translated by: MOS Finesse Team-Gloria
According to data released by the General Administration of Customs of the Communist Party of China on September 7—although the Chinese Communist government tried to reduce steel production and ease the rise in commodity prices, the Party still imported 97.492 million tons of iron ore and concentrate in August. Granted, this data has not yet reached the level of the same period last year, it has skyrocketed by 10.2% over July’s data.
Since Australia banned the Chinese Communist Party’s technology giant Huawei from participating in Australia’s 5G network construction in 2018, the relationship between Australia and the Chinese Communist Party has gradually cooled off. Last year, Prime Minister Morrison of Australia called on the international community to launch an independent investigation into the traceability of the Coronavirus, thus rapidly deteriorating Australia-China relations. Since then, the CCP has launched a full-scale retaliation against Australia: the sanctions imposed on a large number of Australian products exported to the CCP have spread to such a wide range that they are also rare in contemporary trade history. Australian Finance Minister Fredenberg stated in a public speech on September 6 that in the year ending in June, Australia’s total exports to the Chinese Communist Party had fallen by about 5.4 billion Australian dollars. Exports from the rest of the world increased by 4.4 billion Australian dollars.” This shows that the CCP’s trade sanctions on Australia have not had the desired effect.
Today, with the CCP’s economic downturn, it has no choice but to import more iron ore. Australia’s iron ore accounts for about 60% of the total. This means the failure of the CCP’s economic retaliation policy.
(This article represents the author’s point of view only)
Retaliation against Australia and miscalculation, China’s iron ore imports surged in August
Edited by: Lightyear
Posted by: Lightyear
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