China restricted imports from Australia. Now Australia is selling elsewhere

[themickey]

Published Wed, Jun 2 2021
Weizhen Tan@weizent

• Tensions between the two countries soared in recent months and deteriorated sharply after Australia supported a call for a global inquiry into China’s handling of Covid-19.
• China has since taken several measures restricting Australian imports.
• “Exports to China have predictably collapsed in the areas hit by sanctions, but most of this lost trade seems to have found other markets,” said Roland Rajah, lead economist at the Lowy Institute.

A bucket-wheel reclaimer stands next to a piles of coal at the Newcastle Coal Port, in Newcastle, New South Wales, Australia, on Oct. 12, 2020.
David Gray | Bloomberg | Getty Images

Wide restrictions that China slapped on Australian exports are not as damaging as it was feared they’d be, because Australia is finding new markets for its goods.

More https://www.cnbc.com/2021/06/03/aus...s-for-coal-barley-amid-china-trade-fight.html

 

[zdreg]

New markets are likely in Canada and Japan in an eventual free trade agreement.

Socialist biden slaps tariffs on Canadian lumber.
To top it off he made them retroactive.

 

[themickey]

Australian lobsters back on the menu as Chinese 'grey trade' fires up again
ABC Rural / By Daniel Mercer
Posted 18hours ago

Chinese consumers are still hungry for Australian lobsters.(Four Corners: Harriet Tatham)

Australian lobster fishermen shut out of mainland China appear to be selling millions of dollars' worth of crayfish to the once-booming market via unofficial "grey channels", trade experts say.

Key points:

• More than 300 tonnes of western rock lobster were sold in Hong Kong in March
• Lobster fishermen were hit with unofficial trade sanctions by China in November
• Experts say grey trading is not illegal, but authorities can move to shut down trade routes

Commercial fishers across the country were left reeling in November when China appeared to impose an unofficial ban on Australian lobster exports that had been worth hundreds of millions of dollars.

The suspension effectively stopped the trade with China, which had been buying more than 90 per cent of lobsters exported from Australia.

But figures released by the body representing Australia's biggest lobster fishery in WA show a sharp rise in export volumes thanks to the so-called grey trade.

The term refers to the distribution of goods through indirect channels....

More.... https://www.abc.net.au/news/rural/2...obster-grey-trade-fires-up-in-china/100177938

LMAO

 

[zdreg]

God blesses gray markets when governments try to destroy or interfere with free markets.

changed typo bless to blesses

 

[JSOP]

Australian lobsters back on the menu as Chinese 'grey trade' fires up again
ABC Rural / By Daniel Mercer
Posted 18hours ago

Chinese consumers are still hungry for Australian lobsters.(Four Corners: Harriet Tatham)

Australian lobster fishermen shut out of mainland China appear to be selling millions of dollars' worth of crayfish to the once-booming market via unofficial "grey channels", trade experts say.

Key points:

• More than 300 tonnes of western rock lobster were sold in Hong Kong in March
• Lobster fishermen were hit with unofficial trade sanctions by China in November
• Experts say grey trading is not illegal, but authorities can move to shut down trade routes

Commercial fishers across the country were left reeling in November when China appeared to impose an unofficial ban on Australian lobster exports that had been worth hundreds of millions of dollars.

The suspension effectively stopped the trade with China, which had been buying more than 90 per cent of lobsters exported from Australia.

But figures released by the body representing Australia's biggest lobster fishery in WA show a sharp rise in export volumes thanks to the so-called grey trade.

The term refers to the distribution of goods through indirect channels....

More.... https://www.abc.net.au/news/rural/2...obster-grey-trade-fires-up-in-china/100177938

LMAO

Should've done this LONG time ago. Would LOVE to have some Australian lobsters here btw. They look and am sure taste delicious!! Already tasted some Australian wines and they are REALLY fine! Everybody should go buy some Australian wines. They are REALLY good!

 

[Tradex]

New markets are likely in Canada and Japan

That means more action on the AUD/CAD and the AUD/JPY, as far as the Forex market is concerned.