Australian treasurer Jim Chalmers calls on Beijing to end ban on Australian goods

Australian treasurer Jim Chalmers has appealed to China to ease all sanctions on Australian goods, amid reports that Beijing is moving towards ending a ban on coal.
Speaking at the G20 financial summit in BaliChalmers of China called for change.

“It should also extend to the restrictions placed on some of our other exports, also in the interest of our employers and our exporters here in Australia,” he said.

Russian Director of the Bank of Russia's Financial Stability Department Elizaveta Danilova, left, and Russian Deputy Finance Minister Timur Maksimov, right, attend the meeting of finance ministers and the governors of the G20 central banks in Nusa Dua , Bali, Indonesia at.
Russian Director of the Bank of Russia’s Financial Stability Department Elizaveta Danilova, left, and Russian Deputy Finance Minister Timur Maksimov, right, attend the meeting of finance ministers and the governors of the G20 central banks in Nusa Dua , Bali, Indonesia at. (AP)

Experts say that if the coal ban is lifted, it will be about helping China’s economy recover, not its relationship with Australia.

“I think if we misinterpret it and see it as an olive branch to Canberra, we’re making a fundamental mistake,” said Chris Richardson of Deloitte Access Economics.

Finance ministers and central bank bosses from 20 major economies, including Australia, met in Indonesia, but crucial talks about the global cost of living crisis ended in a stalemate.

Discussions were overshadowed by divisions over the war in Ukraine.

“That anger is hot in the international community, mainly because of the human cost of this illegal, immoral and unjustified invasion of Ukraine,” Chalmers said.

It’s also because of the huge economic cost, experts say.

“It’s the biggest bad news for the global economy, for the Australian economy,” said Michael Shoebridge of the Australian Strategic Policy Institute.

“It’s pushed fuel prices up, it’s pushed food prices up.”

Australian treasurer Jim Chalmers, left, talks to Singaporean finance minister, Lawrence Wong, at their bilateral meeting on the sidelines of the meeting of G20 finance ministers and central bank governors in Nusa Dua, Bali.
Australian treasurer Jim Chalmers, left, talks to Singaporean finance minister, Lawrence Wong, at their bilateral meeting on the sidelines of the meeting of G20 finance ministers and central bank governors in Nusa Dua, Bali. (AP)

Richardson said no one could argue that Russian President Vladimir Putin’s war in Ukraine was not the cause of the inflation spiral.

The attendees failed to come up with a joint communiqué with Moscow present.

“It’s kind of like having a neighborhood watch meeting about burglaries in your suburb,” Richardson said.

“You’ve got the burglar there, so you don’t agree that you should call the police.”

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