Australia’s faith in global trade rules is paying off as China looks to back away from trade sanctions.
The World Trade Organisation (WTO) panel decision on Chinese restrictions on imports of Australian barley worth around $1.5 billion a year was due in a matter of days when agreement was reached for Canberra to suspend its appeal, and Beijing to expedite a review of the measures. This is how the WTO is supposed to work – resolve cases through negotiation, with the trade umpire as a backstop.
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Shiro Armstrong is a professor and director of the Australia–Japan Research Centre at the Crawford School of Public Policy at the Australian National University.
