IBISWorld, a leading global industry research company, is predicting China's slowest economic growth since 2009 will have significant implications for Australia where many business are strongly reliant on Chinese demand.
Jason Aravanis, a Senior Industry Analyst with IBISWorld, believes the downturn from China won't take long to hit us.
'Australia is more exposed to a downturn in Chinese economic growth than most nations. China is Australia's largest trade partner, and accounted for 30.6 per cent of total Australian export revenue in 2017-18,' he said
'For context, Australia's second largest trading partner is Japan, which accounted for 12.7 per cent of export revenue in 2017-18. In fact, China accounts for more Australian trade than the United States and Japan combined.'
Rarkar, Winchester, United Kingdom, 2 days ago
Should never have become dependent on
KookaburraAU, Sydney, Australia, 2 days ago
Nothing ro worry about, Bill Shorten's Labor/Greens go nment are experts on the economy.
AndrewRao, Akhand Bharat, India, 2 days ago
its never a good sign to depend entirely on a single country for trade. Its better to diversify trade for any country so that they are not reliant on just one, which could in turn become monopoly if they don't have any economic melt
golden.man, Sydney , Australia, 2 days ago
Shorten can give us another stimulus package when it happens
poshhightea, Melbourne, Australia, 2 days ago
Bring it on. About time.
freddydefrog, Leeds, United Kingdom, 2 days ago
There's too many eggs in that basket ..
Joe, The Rust Belt, Vatican, 2 days ago
This will really hit the residential housing market when the Chinese speculators try to rescue their cash. They have been using the residential housing market as a safety deposit box for years .... foolish of successive go nments to effectively allow the Australian economy to be so sensitive to the economic policies of a Command economy. Many innocent families will suffer negative equity and it may tip us into recession
Scotty Mac, Hong Kong
China will not crash it has 3 Trillion USD cash and a growing middle class. Australia on the other hand despises Asians, so you will loose because of youre disrespect as other nations replace your trade. China has iver 20 million plus University graduates and they are the hest of the best. Now 9 out of 10 are returning to China because of the high technology advances.
Jon Coole, Melbourne, Australia, 2 days ago
What do we all expect ? Keep on covering this planet with more and more concrete?
Scotty Mac, Hong Kong, Hong Kong, 2 days ago
Thus is shocking rubbish. Australia has caussd their own demise. Enjoy your time with your mate Trump in his sandpit. You have got on the wrong train and will pay for the self destruction of your own manufacturing and energy industry.