Reference News website reported on May 24 that according to a report from Singapore's Lianhe Zaobao website on May 23, enterprises around the world are worried about the possible新一轮 inflation triggered by US high tariffs, but for Australia's economy which hardly produces finished products domestically, the inflow of cheap Chinese goods brings hope to consumers and policymakers who have been troubled by price pressures. Taobao and JD.com are the latest Chinese e-commerce platforms to enter the Australian market. The Reserve Bank of Australia said that cheap goods from China are unlikely to impact local production in Australia but may benefit industries that rely on imported products, such as clothing retail. Goldman Sachs estimates that Chinese exports to Australia, particularly in areas like toys, furniture, and clothing, could lower Australia's overall inflation rate by 20 to 50 basis points in the next one or two years. Due to expectations of an influx of cheap Chinese goods and recent easing of inflationary pressures, the Reserve Bank of Australia felt confident enough to cut interest rates this week. The report states that China is Australia's largest trading partner, with total imports of Chinese goods last year amounting to approximately 11 billion Australian dollars (1 Australian dollar is equivalent to approximately 4.66 Chinese yuan—website note). Chinese trade data shows that in April, China's exports to Australia increased by 9% month-on-month, while exports to the US fell nearly 18%. Chinese e-commerce platforms are gradually expanding their presence in Australia. For instance, Temu has already captured a significant share of the local online sales market; Shein opened a pop-up store in Sydney this month; JD.com launched its Australian website in March. Melbourne resident Clarke bought three handbags for 129 Australian dollars on Taobao for her first purchase. She said, "If it's cheaper on Taobao, I will definitely shop there." Original article: https://www.toutiao.com/article/7507934555953988159/ Disclaimer: The article solely represents the author's views. Please express your opinions by clicking the 'Agree' or 'Disagree' buttons below.