Chinese perspectives on the Australia–China economic relationship

Australia’s current Labor Government has adopted a ‘cooperate where we can, disagree where we must and engage in the national interest’ approach to the conduct of its relationship with China. This discussion explores what this might mean in practical terms for how the relationship is managed going forward. The fundamental complementarity of the two countries’ economies is the cornerstone of the Australia–China relationship and allows both sides to benefit from a stable economic relationship. Australia’s long-term outperformance of other developed economies cannot be separated from the benefits it has derived from its relationship with China, Australia’s largest two-way trading partner. In the 2022–2023 financial year, two-way trade between Australia and China amounted to AU$317 billion, more than Australia’s second, third and fourth largest trading partners combined 2 , despi