Australia's iron exports to China are on the table today as Prime Minister Anthony Albanese continues his official visit, while questions continue to swirl around national security and Australia's military partnership with the US.
It's day two of Albanese's visit, with a big business expansion top of the list.
Albanese joined forces with former Socceroos star and current manager of Chinese club Shanghai Port Kevin Muscat yesterday to make the case for increased tourism to Australia.
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"Increasingly, Chinese tourists are spending more than tourists from other destinations," Albanese said.
This morning, the focus turns to iron ore, which is Australia's biggest export, and for which China is our biggest buyer.
Australian iron ore exports to China topped $120 billion in 2024, according to United Nations figures, while the Australian Strategic Policy Institute said in November 2023 that Australia supplied 61 per cent of China's iron ore imports.
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However, China's focus on emissions reduction could threaten that economic buttress, as Australian ore refinement requires extra energy expenditure.
That's at the centre of discussions today, with high-level industry bosses like Andrew "Twiggy" Forrest joining the prime minister and Chinese industry leaders to discuss how Australia can help "greenify" China's steel industry.
However, national security and defence questions continue to resound at home, particularly after it emerged recently that the US could push to mandate Australian support over a potential Taiwan conflict as part of a revised AUKUS agreement.
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National security expert Michael Shoebridge said Albanese was walking a tightrope on the issue, and that it was clear there was some level of concern in Washington DC about the alliance.
"I think our whole defence strategy is we don't fight alone," Shoebridge told Today.
"We work with partners and allies to prevent wars, but we'll fight together if a war happens. That's the whole strategy."
Albanese has previously pushed back on US demands for an increase in defence spending.
But, as Shoebridge pointed out, military exercises involving 30,000 troops from the US and other friendly Asia-Pacific nations such as Japan and South Korea, are currently taking place on Australian shores.
Albanese will meet with Chinese President Xi Jinping as part of his visit to China this week.
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