A second 'Chinese economic windfall' for Australians?
With the ‘biggest-ever’* Australian business delegation visiting China last week, we asked Economic Society of Australia's National Economic Panel (NEP) about the potential benefits for Australia of China moving to consumption-led growth:
"As the Chinese economy makes its transition from investment-led to consumption-led growth, the Australian service sector which currently accounts for around 20% of total exports, will produce a second 'Chinese economic windfall' for Australians."
Over 60 per cent of the panel members agreed with this statement, however many of their comments suggest that Australia's services sector will face much tougher competition than our mining sector ever did.
- Complete poll results, charts and comments
- Overview of the results by Dr Lauren Johnston (McKenzie Postdoctoral Fellow, Melbourne Institute of Applied Economic and Social Research)
- ESA-Monash Forum media release
Please help us promote economic thinking more broadly by sharing the links with your friends and colleagues.
Stay tuned for our May NEP poll! **
Tom Chan & Buly Cardak
ESA-Monash Forum/ESA National Economic Panel
* 'Biggest-ever business delegation heads to China' (Australian Financial Review, Apr 10 2016)
** We're always on the lookout for good questions to put to the NEP. For May we are looking for budget/fiscal policy/federalism related questions - submit your question ideas here.