For our American mates, Australia and China have been in a trade war for 2020 with it looking to continue into 2021.
They hit us with huge tariffs on barley and wine. Banned lobster and coal imports (while China is facing power shortages with 10's of millions freezing kek).
Apparently it is bad for our PM to call for an inquiry on the origins of the kong flu and banning huawei.
China is letting their citizens freeze to death to keep a pissing match going with Australia. Australia can afford to take the hits and will balance out eventually.
Great Leap forward and other shitty directives had people starving by the millions.
Not individually but the impacts will start to be felt from the multitude of bans.
We'll weather the storm though and it seems their plans are backfiring. We have an ace up our sleave in iron ore, we supply them 60% of the iron ore they use and it's high grade rocks just like our coal btw. If it escalates further we could up the price or cut them off that would absolutely cripple their entire country within a few weeks.
But if you folks don't hold the line on keeping trump there we'll be fighting with Beijing Biden and the demorats in our corner and a knife in our back I'm sure.
My view.
If they don't want our coal, we send the Iron Ore exporters on a 2 month holiday.
Fuck them where it hurts.
Limit the supply (hey, we are 2/3rds of world exports) and the price goes up, so no real lose for us.
They can't dump shit low grade cheap steel on the planet if they can't get their ore cheap.
I'm no economics guy, so my take is just idle uneducated guessing.
We export both thermal and coking coal to the world.
In both categories China is our 2nd biggest importer.
Taking 2019 export numbers, China was 18% of our thermal coal exports at $4b, and 24% of coking at 9.7b.
Like you say, this impacts China not just Australia. They have to make up the short fall.
Personally, it is swings and roundabouts. The shortfall will be picked up else where. It's not that simple for another country to automatically increase coal exports by the amounts we are talking about over night yea?
If they increase exports to China, then in the short term it will be at someone else's expense?
I've also read that one of the "reasons" of the Australian coal ban, is China going more green in its energy production. This doesn't make sense, as they have just now signed a ~$2b deal with Indonesia to make up the Australian shortfall.
Why doesn't this make sense you say? Australian thermal coal is some of the 'cleanest' in the world. Comparing it to Indonesian thermal coal it has around 10% moisture compared to Indonesias 30% moisture.
What does this mean? You require less coal to be burnt for the same amount of energy produced.
Also, Australian coal has less ash, sulphur and other nasty elements, making it a 'better' option if you are going to use coal.
For our American mates, Australia and China have been in a trade war for 2020 with it looking to continue into 2021.
They hit us with huge tariffs on barley and wine. Banned lobster and coal imports (while China is facing power shortages with 10's of millions freezing kek).
Apparently it is bad for our PM to call for an inquiry on the origins of the kong flu and banning huawei.
“We no rike your robsta!”
“Ok, we’ll eat them for Christmas at $30 a piece then. Cheers”
$20 down here in Dan's Victorian Soviet Socialist Republic.
Jamabalaya bitches.
Cray-cray
This is an important comment.
China is letting their citizens freeze to death to keep a pissing match going with Australia. Australia can afford to take the hits and will balance out eventually.
Great Leap forward and other shitty directives had people starving by the millions.
China does not give a fuck.
Even better, the Indians want our shit. If the Chinese won't take it, they will. And that's another poke in the eye from India to China.
Not individually but the impacts will start to be felt from the multitude of bans.
We'll weather the storm though and it seems their plans are backfiring. We have an ace up our sleave in iron ore, we supply them 60% of the iron ore they use and it's high grade rocks just like our coal btw. If it escalates further we could up the price or cut them off that would absolutely cripple their entire country within a few weeks.
But if you folks don't hold the line on keeping trump there we'll be fighting with Beijing Biden and the demorats in our corner and a knife in our back I'm sure.
My view. If they don't want our coal, we send the Iron Ore exporters on a 2 month holiday. Fuck them where it hurts. Limit the supply (hey, we are 2/3rds of world exports) and the price goes up, so no real lose for us. They can't dump shit low grade cheap steel on the planet if they can't get their ore cheap.
No one said you have to be smart to be a commie.
I'm no economics guy, so my take is just idle uneducated guessing.
We export both thermal and coking coal to the world.
In both categories China is our 2nd biggest importer.
Taking 2019 export numbers, China was 18% of our thermal coal exports at $4b, and 24% of coking at 9.7b.
Like you say, this impacts China not just Australia. They have to make up the short fall.
Personally, it is swings and roundabouts. The shortfall will be picked up else where. It's not that simple for another country to automatically increase coal exports by the amounts we are talking about over night yea?
If they increase exports to China, then in the short term it will be at someone else's expense?
I've also read that one of the "reasons" of the Australian coal ban, is China going more green in its energy production. This doesn't make sense, as they have just now signed a ~$2b deal with Indonesia to make up the Australian shortfall.
Why doesn't this make sense you say? Australian thermal coal is some of the 'cleanest' in the world. Comparing it to Indonesian thermal coal it has around 10% moisture compared to Indonesias 30% moisture.
What does this mean? You require less coal to be burnt for the same amount of energy produced.
Also, Australian coal has less ash, sulphur and other nasty elements, making it a 'better' option if you are going to use coal.
So, to summarise, commies are gonna commie.
spez: better paragraph spacing?
spezdispenced: nope.