Iron ore is saving Australia's trade with China. How long can it last?
CNN
Wine and wheat. Lobsters and logs. Beef and barley. If Australia exports it, China has likely put up barriers to entry over the past year, as diplomatic relations between the two countries rapidly deteriorated.
Now, one commodity is almost single-handedly keeping the trade relationship afloat: iron ore. Australia is the world's largest producer of iron ore, mining more than 910 million metric tonnes in the 2019-2020 financial year, according to the Australian government, almost twice as much as its nearest competitor Brazil.
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