Australian business hopes to rekindle relations with China after three years of isolation but can Xi Jinping’s regime be trusted to play nice?
Even the eye-watering cost of airfares because of limited post-pandemic flight capacity has not deterred students, tourists, business executives and government officials jetting into Melbourne, Sydney and other state capitals.
“These groups are mostly keen on exporting Chinese goods which is part of the governments push to win back export orders,” says Albert Tse,While Tse says Chinese companies will not make the multibillion dollar investments they did in the late 2010s, the property market should benefit from China’s reopening.
Olsson is preparing for a busy year with talks underway with the Business Council of Australia, Austrade and the Albanese government about sending multiple trade delegations to China this year.next month while university chiefs are planning their visits now that Chinese students are back in Australia. Warwick Smith, who heads the BCA’s global engagement commitment, is also actively involved in getting executives back to China.
China’s growing military presence and heightened tensions with the US and its allies, including Australia, over Asia Pacific security and Taiwan, means warming trade ties could be toppled at any moment by broader diplomatic disputes, analysts warn. Australian businessmen Peter Arkell and Michael Wadley in Shanghai. Arkell is confident the economy will bounce back.“It was like no one had had it and then everyone had it. It was quite remarkable,” he says. “The mood is upbeat. There was the shock of it opening up quickly and people weren’t ready, but now you are outside and all that vibrancy is back.”
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