Some of the country’s key business leaders have warned Australia’s deteriorating relationship with China is a wake-up call for industries too reliant on one market
The comments echo those made by the head of the country’s largest business bank, NAB chief executive Ross McEwan, who said last week the trade war had impacted his business customers.
“What we have seen is some of these industries have found other markets up in Asia – South Korea, Indonesia, Japan,” Mr McEwan said. “There are other markets. But the big market for Australia is China.” “We have to be concerned because China is our number one trading partner. It’s meaningful for both countries, certainly for Australia with all our goods and services that go up to China. We’ve had a relationship with China for decades,” Mr McEwan said. “Of course, it has to be a concern.”