Decoupling Australia from China a ‘Zombie economic idea’ that refuses to die

The belief that Australia is too dependent on trade with China and should cut ties to find economic fortunes with other nations has been called a “zombie economic idea” that refuses to die by a leading China expert.

Tension between Canberra and Beijing has intensified in recent weeks after Australia pushed for a global independent inquiry into the outbreak of the COVID-19 pandemic.

China responded by threatening a boycott of Australian goods and services, with Beijing’s ambassador to Canberra suggesting the Chinese people might even reconsider holidaying down under.

Debate has since raged over Australia’s economic reliance on China, our number one trading partner and the purchaser of roughly $230 billion worth of Australian goods every year.

Professor James Laurenceson is the Director of the Australia-China Relations Institute at the University of Technology Sydney and says no other country in the world can offer Australia what China can.

“In a perfect world we might have eggs spread across a number of baskets but if we’re going to be exposed to a major economy we’re far better off that it’s China than some of these other countries,” Professor Laurenceson tells Brooke Corte.

“About one-third of Australia’s exports go to China – that’s large but it’s nothing like 75% of Canada’s exports going to the USA,”

Click PLAY to hear the full interview between Professor James Laurenceson and Brooke Corte: