The good news overnight is China is ending its restrictions of trade on Aussie hay. Much of the trade bans were payback for joining the ‘pile on’ against China encouraged by Mr Trump. To understand China’s importance to us, this is what the Department of Foreign Affairs and Trade (DFAT) tells us: “China is Australia's largest trading partner. This comes as China’s economic growth has been faltering (it’s down to 5.24%) and economists have been wondering if the world’s second biggest economy will be able to bounce back to better growth numbers. When a country puts bans on trade, it’s called “beggar thy neighbour” policies because the act of trade restriction undermines economic growth, which is where jobs and income come from.

Source: The Guardian September 29, 2023 11:33 UTC