Labor greybeard: We must kow tow to “appalling” China
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Craig Emerson massively over-egging impacts of deteriorating relations with China by telling us that iron ore is at risk. Sure, by 2030.
Of course, there’ll be an adjustment as other exports fall way but we’ll be fine as the AUD craters and boosts exports to other nations. Commodities are fungible.
The only thing “stupid” here is Labor’s inability to grasp that there is no economic engagement with China without the CCP corruption, violations of sovereignty and repudiation of ANZUS.
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That’s China’s choice not ours and we’ll have to live with it.
Decoupling is here. Get over it.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.