China is likely to be more important for Australia's economy into the future, and not the United States.
The Australian sharemarket started the week defensively amid uncertainty surrounding a raft of controversial policy decisions made by United States President Donald Trump.
Craig James is the Chief Economist at the Commonwealth Bank's stockbroking firm CommSec.
He says US, really dominates our financial markets, but in terms of the trade relationship and our future potential, China really dominates our exports and imports.
China is Australia's largest trading partner, with two-way trade between the countries exceeding $150-billion a year.
Japan is second - with $70-billion - then the US with $60-billion.
Chris Richardson from advisory agency Deloitte Access Economics agrees China plays a bigger role in Australia' s economy.
Craig James says China's better-than-expected economy is feeding Australia, leading to its largest lift in terms of trade (Jan) in more than six years.
Chris Richardson says, with annual growth currently sitting at 1.8 per cent, records stand to be broken and In the middle of this year, July 1, Australia will overtake the Netherlands as having the longest unbroken streak of economic growth without a recession that the world has ever seen.
Economists at the National Australia Bank, however, are worried a slowdown in housing construction next year may lead to a rise in the unemployment rate and impede economic growth.
They're expecting the Reserve Bank will cut official interest rates twice this year - once in May and then again in August - to limit the damage.
