on Australian wine marks an end to Xi Jinping’s failed three-year effort to intimidate one of his major trading partners through economic coercion.
Cheaper brands such as Rawson’s Retreat and Yellow Tail were on the shelves of almost every corner store in Shanghai, Beijing and other cities. Three years later and Beijing has rolled back most of the restrictions, which left the Australian economy broadly unscathed. While they will hail the abolition of the wine tariffs as a return to the pre-pandemic glory days of doing business with China, the reality is few Australian exporters trust Beijing any more and the Chinese economy is slowing down anyway. China remains a critical market given its size, but wine exporters do not expect sales to return to theChina and Australia appear to be friends again, at least on an economic level. But that could change on a dime.
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