Australia's ex-PM hails business ties with China

Former Australian prime minister Tony Abbott said on Friday that during his time in office a decade ago, he knew China's rise was a positive force for the world.

"There's no doubt that China's rise has been good for the world," Abbott said at an event in Sydney marking the 10th anniversary of the China-Australia Free Trade Agreement. "In Australia, we gained by supplying China's needs for coal, gas and iron ore, and in return benefited from inexpensive, high-quality consumer goods."

He described the agreement as "the best deal that China had ever done".