The visit of Premier Li Keqiang to Australia starting on Wednesday is a time to reflect on the importance of the Sino-Australian economic relationship to the region and the world and how that may play out in the "age" of US President Donald Trump.

China is now Australia's top trading partner, taking over from Japan which had held that position for more than 40 years. China and Australia have a free trade agreement, support each other in institutions like the World Trade Organization, Asia-Pacific Economic Cooperation and the Asian Infrastructure Investment Bank, and are generally strong partners on the world stage.

Over the weekend, the G20's financial ministers failed to make a commitment against rising protectionism because of the United States' reluctance, arousing concerns about the Trump administration's stance on free trade.