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Recently, the iron ore trade between China and Australia bypassed the US dollar and used RMB settlement, which was initiated by Australia. In this regard, Australian media believes that the global trade trend is changing.

The U.S. dollar may have become a thing of the past. Using RMB for settlement can better stimulate the potential of China-Australia iron ore trade cooperation.

Moreover, at a time when inflation is severe in the United States, the Federal Reserve continues to raise interest rates, which has also caused the Australian economy to face considerable downward pressure. At this time, Australia naturally and urgently hopes to cooperate with China to alleviate the severe domestic economic situation.

at the same time,

This will also be a positive change in the warming of China-Australia relations.

Australia is no longer willing to be driven blindly by the United States, but has begun to consider its own interests. Therefore, using RMB for settlement can be seen as an "olive branch" to China.

Previously, China had proposed that "to ease the relationship between China and Australia, Australia needs to seize the opportunity", and now it seems that Australia has begun to take action. The main reason why Australia is so actively seeking cooperation with China is its severe domestic economic situation.