Carrington Clarke

Now, on one hand, that's good news for Australia, isn't it?

Because it means if the Chinese economy is still doing relatively well, that means we've still got a pretty major market for the other exports that Australia relies upon.

Now, Donald Trump is supposed to be visiting China very soon.

This has been a delayed state visit to China.

Donald Trump, though, has been hyping this up.

But at the same time, we've also had the Treasury Secretary, Scott Besant,

threatening and putting in place sanctions on Iran, but also going after Chinese companies, telling them not to do business with sanctioned Iranian companies.

Now, what has been fascinating, though, is that China is pushing back aggressively on that and telling its companies to ignore these threats.

Do you think that this does risk being a full-blown confrontation between the world's two most important countries?

Well, I don't think they're going to go to war about it.

Yeah, absolutely.

Alan, thank you so much for joining us on Fuelcast.

Remember, you can catch ABC Business Daily in your feed this afternoon.

And we'll be watching for the fuel announcement expected from the National Cabinet meeting later today.

And we'll check back in with you about it and all other fuel news on Friday.

Thanks, Alan.

Well, the Reserve Bank has hiked interest rates again, the third hike of the year, and pushing the cash rate to 4.35%.

With inflation running too hot, in part because of the unresolved war in the Middle East, the bank determined it needed to do what it could to bring down demand.

But does this rate hike push the economy closer towards a potential recession?

Welcome to ABC Business Daily.