Economic, social and environmental impacts of fuel subsidies: A revisit of Malaysia
Subsidising energy has been widely used but is economically unfavourable. The Malaysian government has shown strong intention to reduce energy subsidies recently, but faces challenges to prepare policy instruments to manage the impact. This study develops a Computable General Equilibrium (CGE) model with breakdown of households by income level to evaluate the potential impacts of removing energy subsidies on the Malaysian economy. It is shown that removing petroleum and gas subsidy would improve economic efficiency and increase GDP up to 0.65%.
The killer fact about the Chinese middle class
The NSW-China Economic Relationship
1. Over the past year the value of NSW goods exports to China is $7.0 billion. This is a record high. China accounts for 16.7 percent of NSW total goods exports, and is:
- 0.7 times that to Japan;
- 2.1 times that to Korea; and
- 2.8 times that to the US.
2. The annual value of NSW goods exports to China increased by $1.3 billion in the past five years. During the same period NSW goods exports to:
- Japan fell by $448.3 million;
- Korea fell by $451.8 million; and
Grading the China-Australia Free Trade Agreement
In a 12 month period between December 2014 and December 2015, Australia clinched free trade agreements (FTAs) with Korea (KAFTA, enacted December 12 2014), Japan (JAEPA, enacted January 15 2015) and China (ChAFTA, enacted December 20 2015). A decade earlier, Australia had sealed an FTA with the US (AUSFTA, enacted January 1 2005). The combination means that Australia now has FTAs with its four biggest overseas customers.
Australia-China Annual Think Tank Economic Dialogue
Senior economists, policy specialists, business representatives and diplomats from Australia and China gathered in Beijing for the inaugural Australia-China Think Tank Annual Economic Dialogue, co-hosted by the Australia-China Relations Institute (ACRI) and the Chinese Academy of International Trade and Economic Cooperation (CAITEC).
The future of Australia's gas and LNG export market: An East Asian perspective
The Australian gas sector is at a dynamic stage due to Australia’s expected ascension to the world’s largest LNG exporter by next year. The increasing export of LNG, at a time of expiring long-term contracts in the domestic market, causes debate on the high price for domestic consumers. There is no quick solution to balancing various interests. Changes to existing commercial arrangements through legislation and state intervention may be a quick solution to mitigate domestic market price pressure, but maynot be in the nation’s long-term interest.
Is China really a threat to maritime trade?
Issues in formulating natural gas benchmark prices in China
The oil indexed pricing mechanisms for natural gas and LNG in Asian markets, although successful until the 1990s, are general considered to be no longer appropriate, with a weak relationship between oil and gas market fundamentals. Since the current oil-indexed pricing system fails to reflect the natural gas market fundamentals, several East Asian countries including China are considering formulating their own natural gas benchmark prices.
India cannot cushion the blow if China stumbles now
Australia’s economic relationship with China and India: A snapshot
Between 2011–2015, China and India accounted for an average of 35.5 percent and 11.9 percent of world GDP growth, respectively.
In 2015-16 China was the number one customer for Australia’s goods worth $75.3 billion, accounting for 30.9 percent of total Australian goods exports. India bought $9.7 billion and ranked fifth, accounting for four percent of the total.