The limited impact of China's economic coercion on Canada and Australia is first and foremost the result of Beijing’s strategic restraint in wanting to avoid strongly harming its own economy.
Then, there is Australia. In 2020, after Canberra’s call for an independent investigation into the Covid-19 outbreak, Beijing put a barrage of trade measures on Australian barley, beef, wine, lobster, copper, and other goods. Tens of billions of dollars of trade were under pressure, but after a full year of facing China’s restrictions, the Australian Treasury only pointed to losses of around AU$1 billion, less than 0.2% of Australia’s total goods exports the previous fiscal year. More recently, some see China’s coercion as providing unexpected benefits in helping Australia diversify both its export and import dependencies on the Chinese market.