A collective approach to countering Chinese economic bullying may be Australia’s best option | Darren Lim and Victor Ferguson
When a Chinese foreign ministry spokesperson identified “positive comments” in a speech by prime minister Scott Morrison earlier this week, Australian exporters might have wondered whether the bilateral relationship might finally be turning a corner.
That hope was swiftly crushed on Friday, when China’s Ministry of Commerce (MOFCOM) announced anti-dumping duties of 107-212% on Australian wine exports.
Australian winemakers had already been on their toes for weeks after reports at the beginning of November suggested an informal ban had been placed on wine and six other Australian products. Now they are reeling.
The share price of Australia’s largest exporter, Treasury Wine Estates, plunged more than 10% and the prospect of Australian wines doubling or tripling in price does not…