China’s trade restrictions on Australian wine, lobsters and other commodities could be the next to ease amid a warming of diplomatic ties and expectations that Beijing will soon resume imports of coal.
Curbs on commodity imports will probably be eased gradually and in an unofficial manner, said Hans Hendrischke, professor of Chinese Business and Management at the University of Sydney. While there’s some confidence that restrictions will be lifted, there’s currently no indication of timing, he said.
“Nobody could tell you whether it will start with barley, wine producers or lobsters for Chinese New Year,” Hendrischke said.
China’s boycott of Australian products has been a burden for the economy as inflationary pressures pushed up interest rates and pressured the property market. The prospect of increasing Chinese demand is now helping to support the currency which should ease some of the inflationary pressures.Click HERE to subscribe to Fuller Treacy Money Back to top