Asia-Pacific

Nov 12, 2012

Welcome to the Asian century: Chinese dragon roaring

Australia's Asian Century is much closer than we know, with the Chinese economic slowdown bottoming out and now starting to rebound in encouraging strength.

Glenn Dyer — <em>Crikey</em> business and media commentator

Glenn Dyer

Crikey business and media commentator

The Chinese economy appears to be turning up — although it’s early days and a still slowing Europe could derail the rebound, helped by America falling off the fiscal cliff in early 2013.

But until then, the signs are growing stronger that Australia’s most important export customer is on the improve, according to the Organisation for Economic Co-Operation and Development. The same bears who forecast doom and gloom about China and Australia have been largely absent in the past few weeks as commodity prices recover and more signs emerge that China’s economy is bottoming out.

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2 comments

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2 thoughts on “Welcome to the Asian century: Chinese dragon roaring

  1. Hamis Hill

    Adam Smith identified wages as returning capital, that is wages return when the goods encompassing those wages are sold.
    China like Japan before it has a vast fortune of returned capital from foreign sales of its manufactured goods.
    In other words foreigners have long paid the wages of Chinese workers.
    Now it is time for Chinese authorities to start paying the wages of their own people instead of enabling its own capitalists to keep exploiting China’s low wages.
    Develop its own domestic economy with what is now its own money.
    Something new for China?
    Paying its own way in its own world now that North America and Europe can no longer continue to beggar themselves (by returning wages to China, instead of to their own employees) for low wage, Chinese goods?
    What prospects of an equal, wages playing field?

  2. The Pav

    1) The new China leadership cannot afford instability so they will find a way to stimulate growth with or without the USA & Europe
    2) Given 1 above the fact Europe going guts up, whilst obviously will have an impact, good old Aussie will sail on and we will be able to do ABC ( Another [email protected]@dy Church or another Bl##dy Castle) tour on the cheap as the AUD stays relatively strong
    3) The fiscal cliff in the USA will keep getting pushed out and out and eferred until eventually it sort of fades away. There will be more than a few scary moments but Uncle Sam will escape disaster…just

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