In minerals purchasing, China is teaching Australia a lesson on economic power

(John Coyne – ASPI The Strategist) For decades, Australia assumed economic power flowed from geology. Resource wealth delivered export earnings, government revenue and strategic confidence. The emergence of China Mineral Resources Group (CMRG) over the past four years suggests otherwise. In increasingly contested markets, power may lie less with those who own resources than with those who organise demand. Australia has spent years considering how to strengthen supply-chain security. Governments have commissioned reviews, published strategies and invested billions to secure access to fuel, critical minerals, semiconductors and other essential inputs. These efforts reflect a growing recognition that economic resilience and national security are becoming increasingly intertwined. But while Australia has focused on who controls supply, China has been steadily strengthening its ability to shape demand. The distinction goes to the heart of how economic power is changing. – In minerals purchasing, China is teaching Australia a lesson on economic power | The Strategist