“It should extend to the restrictions that are placed on some of our other exports as well in the interests of our employers and our exporters here in Australia,” he said.
Experts say if the coal ban is overturned it will be about helping heal China’s economy not its relationship with Australia.
“I think if we misread it and see it as some kind of olive branch to Canberra, we’re making a fundamental error,” Chris Richardson from Deloitte Access Economics said.
Finance minsters and central bank bosses from 20 major economies including Australia met in Indonesia but crucial talks on the global cost of living crisis ended in a stalemate.
Discussions were overshadowed by divisions over the war in Ukraine.
“That anger is white hot in the international community, primarily because of the human cost of this illegal and immoral and unjustified invasion of Ukraine,” Chalmers said.
It’s also because of the huge economic cost, experts say.
“It’s the biggest bit of bad news for the world economy, for the Australian economy,” Michael Shoebridge from the Australian Strategic Policy Institute, said.
“It’s pushed fuel prices up, it’s pushed food prices up.”
Richardson said no one could argue Russian President Vladimir Putin’s war in Ukraine was not the root cause of the inflationary spiral.
Attendees failed to come up with a joint communique with Moscow present.
“It’s a bit like you’re having a neighbourhood watch meeting about burglaries occurring in your suburb,” Richardson said.
“You’ve got the burglar there so you’re not going to agree that you should call the police.”