Iron Ore: China and Aust Reliance

iron ore: In the 31 days in May, Australia sent 80 per cent of its export wool to China, according to Nine News Australia. It's a similar percentage for iron ore and even crustaceans. To improve your experience update it here News National Aust reliance on China likely to increase By AAP8 00am Aug 4, was built on the sheep's back, but now most of what's carried on that back is heading to China. The May export figures paint a stark picture of just how reliant Australia's economy is on the Chinese boom. It also opens up Australia's politicians to fears of economic coercion, particularly as China faces international pressure for putting Muslims in internment camps and cracking down on protests in Hong Kong. The money involved means if the Asian nation were ever to cut off an industry or two - as it has done to other countries at times - it could severely damage Australia's economy and wipe out the predicted federal budget surplus. (news.financializer.com). As reported in the news.