I don’t think things were banned, there were very large anti-dumping tarrifs put on some products. All those categories of goods still get exported to China.
Any reports of declining trade between Aus and China is due to the falling price of Iron Ore mainly.
The problem is the global flow of money from the US to China, then from China to Australia for Iron Ore, then from Australia to the US for arms to be used against China. The solution is to balance trade between Australia and China, which will eliminate the trade surplus used to buy US arms.
How China does this is really smart, it involves so many things, and the end result is that Australia’s cash cow is going away forever.
They are moving production of steel intensive parts near steel mills fed with local iron ore in other countries.
They are replacing steel with carbon fiber, things like train carriage bogeys, this reduces the need for Ore AND increases steel recycling.
They are using chemistry to develop greener and cheaper processes to work with lower quality ores which increases the availability of useful ore deposits globally. That means Australia’s current clients Iron Ore clients become their future competitors.
China is also taking stakes in Australian mines, and has a limit on how much they must own by 2025. So even if the prices increases a lot, half the profit goes back to China.
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