As the Chinese Communist Party banned the import of Australian wine and other agricultural products or raised the tariff, the loss of Chinese farmers was 11 times as much as that of Australian farmers while hurting Australia.
Because the Australian government has made it clear that it will hold the Chinese communist Party authorities responsible for concealing information about the outbreak of the Chinese communist Virus (Wuhan Pneumonia), which caused the virus to spread worldwide and infect millions of people. The Communist Party shifted the political issue to trade, imposing tariff sanctions and import bans on Australian goods such as wine, barley, lamb and beef, coal, lobster and timber.
According to Taiwan’s Newtalk news, the move has cost Australian farmers A $330 million, but the party itself has been hurt more.
Chinese farmers are expected to lose A $3.6 billion, more than 11 times the Australian losses of A $330 million, the report said, citing data from the Australian Bureau of Agricultural and Resource Economics and Sciences. In addition, the Chinese communist authorities have had to pay higher prices for coal from other countries.
“Exports of agricultural products are expected to increase by 2025 as Australia’s agricultural production shifts to other regions,” the BUREAU of Agriculture and Resource Economics and Science report said. “This means that the overall value of Australia’s agricultural exports will fall by less than the loss from trade with China.”
Since October, Chinese communist Party authorities have banned steel mills and power companies from buying Australian coal, and the price of high-quality hard coking coal in Australia has fallen 22 percent.
But the move sent the price of coking coal on the mainland soaring to a four-year high last week, inflicting misery on steel mills, while another supplier, Mongolia, takes longer to ship coal because truck drivers have to undergo quarantine inspections when they cross the border. This has sent the price of coal produced in China so high that the Party has turned to other countries to buy coal at higher prices than Australia’s.
Faced with a crackdown by The Chinese communist party, the Australian government has sought markets in other countries to spread the pressure. The communist Party’s antics have also provoked anger in other countries, with many people buying Australian wine in support of Australia. Australians are also calling for their companies to leave China.
Meanwhile, some senior government officials have begun discussing how best to deal with the Chinese communist Party’s bullying of Australia, which has provoked a backlash from the Five Eyes Alliance in Australia, the United States, Britain, Canada and New Zealand.
One option would be for each of the five countries to impose sanctions on Chinese goods and services, according to News Corp of Australia. Another option would be for Australia to impose retaliatory tariffs on Chinese imports, with the other four Allies boycotting the Communist Party. Under the plan, the Five Eyes alliance will evaluate every high tariff announced by Beijing on Australian exports. Australia would impose retaliatory tariffs of the same or higher amount on Chinese products if the Chinese communist Party’s actions were deemed politically motivated, and face a boycott by four Allies if the Chinese Communist Party wanted to make up for losses in other markets.
Malcolm Rifkind, a former British foreign secretary, said that in the case of the Communist Party, potential victims worked together to ensure a collective and co-ordinated response.