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Marketplace All-in-One

China and Australia’s rocky trading relationship

Marketplace All-in-One

Marketplace

Business, News

4.51.4K Ratings

🗓️ 20 March 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: China’s foreign minister is making his first trip to Australia in seven years. Will the talks bring a bitter three-year trade war to an end? Plus, the Red Sea is used by 30% of the world’s container ships using the Suez Canal, but the journey is being made perilous by drone attacks from Houthi rebels in Yemen. We hear from one of the U.S. warships now patrolling the waters.

Transcript

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0:00.0

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0:27.0

Can China and Australia get their trade back on track?

0:30.0

Hello, I'm Leanna Byrne and thanks for tuning in to the Marketplace Morning Report and

0:34.2

we're coming to you live from the BBC World Service. Yes, we're going to start down

0:38.7

under in Australia where China's Foreign Minister is visiting for the first time since 2017.

0:45.0

Things have been tense between the two countries and recent years

0:48.0

and that spilled over into a series of trade disputes.

0:51.0

So how did the meeting go?

0:52.0

Let's ask the BBC's full Mercer in

0:54.2

Sydney hello yes hi how you doing what brought us to this point that there's so much

0:59.2

tension between China and Australia well both countries are economically speaking interdependent but in recent years

1:06.6

there have been immense tensions over various geopolitical disputes that has descended into a bit of a trade war between both countries,

1:17.2

China imposing restrictions on billions of dollars worth of Australian commodities.

1:23.6

But since an election in 2022 here of a Labour government in Australia,

1:28.7

we've seen both sides make a concerted effort

1:32.0

to diffuse those tensions.

1:34.0

China and Australia, they're meeting up now, first time in seven years,

...

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