China officially blocked coal imports from Australia

Published On: Thursday, December 17, 2020 | By: Team KnowMyStock

China is forcing Australia to confront what many countries are concluding: The coal era is coming to an end. China has now officially blocked coal imports from Australia after months of vague restrictions that dramatically slowed trade and stranded huge ships at sea. For Australia, the world’s largest coal exporter, the decision is a gut punch that eliminates its second-biggest market at a time when many countries are already rethinking their dependence on a filthy fossil fuel that accelerates the devastation of climate change. While Beijing’s motives are difficult to divine, there are hints of mercantilist protection for local producers and the desire to punish Australia for perceived sins that include demanding an inquiry into the source of the coronavirus. China’s commitment to cut emissions may also allow it to be marginally more selective with its vast purchases.

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