Anthony Albanese’s upcoming China visit will be the first by an Australian prime minister since Malcolm Turnbull in 2016. Much of the media attention will be on irritants in the relationship, such as the four-year detention of the Australian writer Yang Hengjun and rising tensions in the South China Sea. But economic ties will also feature highly, with the prime minister scheduled to attend the China International Import Expo in Shanghai. How important is two-way trade? China dwarfs all other nations when it comes to Australia’s trade, accounting for almost a third. China buys more Australian exports than the next...