When china launched a campaign of economic coercion against Australia in 2020, Communist Party bosses thought they had crushing leverage. The economies of the two countries—resource-rich Australia and commodities-hungry China—were complementary and closely connected. By massively curbing shipments of everything from timber to coal, lobsters, barley and wine, on pretexts including exaggerated concerns about trade practices and pest infestations, China imposed a A$24bn ($16bn) hit to Australia. Yet it did not succumb. And like a surfer surviving a shark attack with no more than a lightly gnawed board, Australia is now emerging from three years of Chinese bullying in remarkably good shape.
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