CHINA AND THE FUTURE OF THE AUSTRALIAN ECONOMY

“Is China the Future of our Economy?” - so asked Terry McCrann in his article in the Sunday Mail Queensland. He believes China is fundamental to our economy and the future growth of the economy. Although he acknowledges the downturn in the demand for Australian resources by China, Terry gives the examples of the increasing number of Chines students enrolling in Australian Universities and Chinese purchasing property in Australia.

He says that by purchasing new properties and those “Off the Plan” the Chinese have added to the economic recovery in residential construction which has a “Flow through” effect over the whole economy. And with the fall in the Australian Dollar this demand from China and Asia could increase depending, of course, on the value of the Chinese currency.