Economics

China’s “New Normal” Growth

December

In 2014, China’s growth rate slowed to 7.4 percent. This was down from 10.4 percent in 2010. This ACRI Fact Sheet explains what China’s “new normal” growth rate means for the world economy.

One billion tonnes of Chinese steel: Rio and BHP aren’t alone in their optimism

December

By James Laurenceson

Note: This article appeared in The West Australian on May 18 2015.

Fortescue boss Twiggy Forrest didn’t hold back: last week he accused the big miners of having a “callous disregard for Australia”. Treasurer Joe Hockey said he was sympathetic to Forrest’s position. Senator Nick Xenaphon called for a Senate inquiry. A parliamentary inquiry of some sort looks like getting the nod.

Chinese Investment in Australian Residential Real Estate

December

  1. Domestic buyers are responsible for 85.2 percent and 91.3 percent of demand for new and established residential real estate, respectively.1
     

China Policy Under the Abbott Government

December

The Abbott Government was elected on September 7 2013. This ACRI Fact Sheet provides an overview of Australia’s relations with China under the Abbott Government.

Missteps and a Hard Line

The new government ventured into China diplomacy a month after winning power.

On October 4 at a Trilateral Strategic Dialogue in Bali, Australia joined the US and Japan in a joint statement opposing “any coercive or unilateral actions that could change the status quo in the East China Sea”.1

The Queensland - China Economic Relationship

December

1. The annual value of Queensland’s goods exports to China is $10.8 billion.1 This is –

1.3 times that to Japan

2.3 times that to India

2.4 times that to Korea

 


2. The value of Queensland’s goods exports to China increased by $4.5 billion in the past five years. Exports to –

Japan fell by $6.5 billion

Korea fell by $1.8 billion

India fell by $0.5 billion

 

The Australia-China Economic Relationship

December

1. The annual value of Australia’s goods1 and services2 exports to China is $108 billion. This is –

2.1 times that to Japan

6.7 times that to the U.S.

10.5 times that to India

 


2. The value of Australia’s goods and services exports to China increased by $64 billion in the past five years. Exports to –

India fell by $8.1 billion

Japan fell by $4.7 billion

The banquet has only just begun for Queensland

December

By James Laurenceson

Note: This article appeared in The Courier Mail, November 19 2014.

The world leader most important to Queensland has just left the building. And it wasn’t Barack Obama or Shinzo Abe. Chinese President, Xi Jinping, thanks for stopping by.

When China overtook Japan to become Australia’s largest customer for goods exports five years ago, Queensland remained a bastion of the old order. At the end of 2008, Queensland’s goods exports to Japan were five-and-a-half times the value of China. Those to Korea and India doubled China as well.

Australia-China free trade only a first step to real partnership

December

By James Laurenceson

Note: This article appeared in The Conversation on November 17 2014.

China’s third quarter figures beat expectations but fall short of a knockout

December

The global economy breathed a sigh of relief last month with the release of China’s third quarter growth numbers. The result of 7.3 per cent was down from 7.5 per cent in the previous quarter but came in a touch above consensus forecasts. The result was sufficiently robust for worries about a hard landing to retreat significantly.

Abbot’s awkward APEC moment over Asian infrastructure bank

December

Forget shirt-fronting Russian President Vladimir Putin. Prime Minister Tony Abbott’s most challenging task this week will be breaking an uncomfortable silence with Chinese President Xi Jinping. And he will have to do it twice: first at the APEC meeting in Beijing and again at the G20 in Brisbane.

After vigorous lobbying by the United States and Japan, Australia’s involvement in the China-led Asia Infrastructure Investment Bank (AIIB) was scuttled by the National Security Committee of federal cabinet on strategic grounds.