China's boom a high stakes game for Australia
China's fast-paced recovery should be a massive money-making opportunity. Instead, China is using its growing heft as a blunt tool of coercion.
As China continues to unashamedly slap Australia around on trade, there's one number policymakers need to keep in mind: 12 per cent.
That's how much bigger Westpac calculates China's economy will be at the end of 2021 compared to the end of 2019, a wake-up call for Australian policymakers increasingly alarmed by Beijing's willingness to exploit its privileged role as the primary driver of global economic growth - and gatekeeper to the world's biggest consumer market - as a tool of coercion.
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