China repays Albo grovelling

Australia’s trade balance continues to revert to mean:

As exports fall away post-Ukraine pop:

While imports keep on keeping on:

Alas, Albo’s China grovel is making us ever more vulnerable to economic coercion as the export share surges back. Thankfully, this will deteriorate as iron ore falls in the next few years:

It is unclear if we have shaken off our Chinese import dependence. I very much doubt it, given the grovel:

There is not much national interest policy here, as the hard work of trade diversification is unwound by Albo the China groveller.