“…despite China’s overreliance on Australian iron ore and coal, which has caused some hiccups in the past months, recent shipments of the important materials from alternative sources showed that it is easy for China to replace Australia as its import source.” – as quoted from the linked GT report.
“China’s cooperation with developing countries has been rapidly expanding in recent years, and many of these countries are rich in natural resources and are seeking to achieve economic development and growth themselves via trade,” – another such quote.
In a ‘minnow taking on a whale’ contest, Australia has been crowing over its windfall increase in revenue from falling iron ore exports to China, due to soaring resource prices but the crux of the matter is (and I don’t think I need say any more):
“Chinese experts told the Global Times that China needs three to five years to invest and develop in African iron ore mines, but some investment projects started before China-Australia ties soured in 2020.
Analysts said although Australia scored a hit with the skyrocketing iron ore prices in recent months, shoring up its overall export value to China and getting the juice of China’s manufacturing recovery, rising prices for the ferrous metal also awakened some of the dormant Chinese investment in Africa.”
OK, I will just add a little ‘Tee-Hee’ here, as my country sets itself on the bumpy road to a bleak future – more or less in total ignorance that is what it is doing. We only have ourselves to blame.