Australia has posted the biggest monthly trade surplus in history as the economy continued to rack up records in a marked rebound from last year’s deep recession.
2020-21 is forecast to be an excellent year for Australian agriculture, with an expected 8 per cent lift in production value on last year
An unassuming business in Perth’s eastern suburbs has amassed a global footprint and is supplying to WA’s biggest miners after demand for its services surged during the coronavirus crisis.
A global mining expert has warned it is not a given that Australia and China will repair their strained trade relations as he signals the clock is ticking to find a solution.
Trade statistics show that exporters with limited market dominance are already impacted by the eroding competitiveness.
The company behind some of Australia’s most popular wine brands will carve up the business and tap new markets as punishing trade tariffs imposed by China last year take a hefty toll on profits.
It’s been a rough ride for winemakers and table-grape growers as they race to pick the fruit as fires rage, and uncertainty remains over COVID-19.
Ray Jordan and Jenne Brammer
China trade tensions are continuing to take a toll on Australian winemakers as total exports and prices declined last year.
Scott Morrison has told his MPs to attend Chinese New Year celebrations in a bid to smooth over relations with Chinese-Australians.
The Premier admits his stance is not popular but predicted once the trade war resulted in job losses it would explode into a ‘big issue’ and the long-term prosperity of the nation would be at risk.
Construction sites will work through the five-day lockdown though workers who have visited potentially affected places will be required to clear health tests before being allowed on site.
In her first interview since being appointed shadow minister for resources, Madeleine King says repairing Australia’s fractured relationship with China should be paramount.
China’s President Xi Jinping has called for a more unified world order and open economy, warning countries against ‘exclusion’ and ‘threats’ that could lead to a new Cold War.
President Xi Jinping has used his Davos Agenda address to call on the world to abandon ‘ideological prejudice’ and shun an ‘outdated Cold War mentality’.
Zak Kirkup would lead a trade delegation to Japan and South Korea, if elected, with a plan to open up trade opportunities for WA with the Asian superpowers.
Australia enjoyed its fourth-highest goods trade surplus on record in December, with exports jumping 16 per cent in the month.
Prime Minister Scott Morrison is willing to meet with Chinese President Xi Jinping, but only if there are no preconditions to holding the talks.
Sarah Ison and Daniel McCulloch
Trade Minister Dan Tehan has revealed he has written to China’s new commerce minister in a bid to restart dialogue and stress Australia’s commitment to a constructive trade and economic relationship.
The figure is up more than 500 per cent on the net profit the Andrew Forrest-led company delivered in the previous first half.
The relatively small impact suggests there’s little economic need for the country to bow to Beijing’s pressure.
The State’s peak business body has used the start of the new Biden administration to push for the establishment of a trade and investment office in the US, arguing it will help boost WA’s economy.
China has shunned imports of Australian copper ores and concentrates amid rising tensions between the two nations, with imports in December falling to zero.
Tom Daly and Emily Chow
An economic forecaster has warned trade tensions between Australia and China may become a bigger problem for WA this year, even though its powerhouse iron ore industry has so far escaped unscathed.
Danielle Le Messurier
Under an executive order from President Donald Trump, US investors will have to unwind stakes in any company on the Defence Department list by next November.
Peter Martin and Nick Wadhams
© West Australian Newspapers Limited 2020