China trade to go beyond the boom
Note: This article appeared in The Australian Financial Review on June 14 2014.
Japan has a population of 128 million, China 1.4 billion. Japan’s economy is already mature. China only entered the ranks of upper middle-income countries in 2011, and the World Bank expects that the transition to a mature, high-income economy will take at least another 15 to 20 years.
The Victoria-China Economic Relationship
1. The annual value of Victoria’s goods exports to China is $4.2 billion.1 This is –
1.9 times that to the U.S
2.2 times that to Japan
2.2 times that to New Zealand
2. The value of Victoria’s goods exports to China increased by $2.0 billion in the past five years. This is –
4.1 times that to the U.S
5.5 times that to Japan
16.9 times that to New Zealand