China’s growth over the past few decades has lifted many of its largest trading partners. But as it begins to slow, can those countries rely on it to save them from recession?
China has begun lifting tariffs on key agricultural products, sending the exports of its trading partners to record highs.
Australian agricultural exports in 2022-23 reached a record high, driven by strong demand from China as trade tensions eased.
The Rural Bank’s report revealed a robust winter crop contributed to a significant increase, with agricultural exports totaling $79.9 billion, marking an 18% year-on-year rise and the third consecutive year of growth.
All top 13 export markets saw year-on-year growth, with 12 of them reaching record levels.
But as the world’s second largest economy begins to slump, what will happen to so many of the world’s economies that have grown alongside the behemoth?
