Economics

Executive summary

- Major ‘infrastructure gaps’ plague the Asia-Pacific region, constraining economic integration and undermining development efforts.

- In 2013, China launched two new projects – the Belt and Road Initiative (BRI) and the Asian Infrastructure Investment Bank (AIIB) – to lead regional efforts to plug these infrastructure gaps.

Last year Australia’s trade with China hit a record high of $184 billion. But there are concerns that economic risks in China, as well as political tensions in the bilateral relationship, might take a toll on the Australian economy. Will China’s demand for Australian natural resources remain buoyant as China’s domestic economy shifts away from investment towards consumption and services? Can the financial and investment side of the Australia-China economic relationship rise to match that of trade?

1. Over the past year the value of NSW goods exports to China is $8.1 billion. This is a record high.  China accounts for 17.4 percent of NSW total goods exports, and is:[1]

- 0.7 times that to Japan;

- 2.1 times that to Korea; and

- 3.0 times that to the US.

By James Laurenceson

Note: This article apppeared in the International Peace Institute's blog, Global Observatory, on June 8 2018.

The Australia-China Relations Institute (ACRI) at the University of Technology Sydney (UTS) welcomed Trade Minister Steven Ciobo MP to deliver an address in the Theatre, Parliament House, Canberra on June 28 2018.

In 2015, the China-Australia Free Trade Agreement (ChAFTA) was described as a state-of-the-art FTA. Beneficiaries included banks, insurers, securities companies, law firms, professional services suppliers and education services exporters, as well as health and aged care. 

By James Laurenceson

Note: This article appeared in The Australian Financial Review on March 23 2018.

1. On December 19 2017 China took the first step towards launching a nation-wide carbon emissions trading scheme (ETS).[1] It has been testing emissions trading since 2013 with  seven pilot schemes in five cities (Beijing, Chongqing, Tianjin, Shanghai and Shenzen) and two provinces (Guangdong and Hubei).

1. Victoria’s goods exports are worth $24.7 billion, of which $5.4 billion is to China.[1] This is:

- 1.8 times that to the US;

- 2.6 times that to New Zealand; and

- 3.5 times that to Japan.

2. The value of Victoria’s goods exports to China increased by $1.8 billion in the past five years.[2] This is:

- 1.2 times that to the US, and

- 12.6 times that to New Zealand.

The Australia-China Relations Institute (ACRI) and the University of Technology Sydney (UTS) welcomed the Governor of the Reserve Bank of Australia, Philip Lowe, to deliver an address in the Great Hall, UTS. Mr Lowe spoke on the bank’s assessment of China’s economic performance and financial system, and the implications for Australia.

Following his address, Mr Lowe was interviewed by Professor Bob Carr, ACRI Director.

Time: 6:00 pm - 7:30 pm

Australia is an energy net self-sufficient country rich in energy resources, from fossil-based to renewable energy. Australia, a huge continent with low population density, has witnessed impressive reduction in energy consumption in various sectors of activity in recent years. Currently, coal and natural gas are two of Australia’s major export earners, yet its abundant renewable energy resources such as solar, wind, and tidal are still underutilised.