Australia News Today: China's economic might, saving coral and RBA rate hikes – Bloomberg

Taylor Riggs and Romaine Bostick break down the day’s top stories and trading action leading into the close.
Insight and analysis of top stories from our award winning magazine “Bloomberg Businessweek”.
Highlights from a week-long virtual event bringing Bloomberg Businessweek magazine to life. Carol Massar and Tim Stenovec host a look back at the best interviews, discussions and more.
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Good morning, it's Sunil here in Sydney. Ties with China may be tense but the nation is set to remain a key trade partner for Australia. But first…

Today’s must-reads:
• The Great Barrier Reef is in danger
• Rio’s bid for a giant copper mine
• Why the RBA is down-shifting
China’s power: China is an “important trading partner” for Australia and will remain so in the face of headwinds ranging from Covid lockdowns to supply-chain disruptions, a senior government official said. It’s “almost unimaginable to think that that importance will decrease significantly,” said Elisabeth Bowes from the Department of Foreign Affairs and Trade. Tension between the nations has included punitive trade action from China. Such factors highlight the need for trade market diversity, she said at the Asia Briefing in Melbourne. The event concludes in Sydney today.


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