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China becomes Australia's top trading partner [Copy link] 中文

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Post time 2007-8-31 16:20:21 |Display all floors
China overtakes Japan as Australia's largest trading partner

China has overtaken Japan as Australia's number one trading partner, according to official figures released Friday.

The Australian Bureau of Statistics (ABS) said that Australia's trade with China was worth 50.5 billion dollars (41.4 billion US) in the 12 months to July, while trade with Japan reached 49.7 billion.

It is the first time in 36 years that Japan has not topped the list of Australia's international trade partners.

"This is very much a big deal. For the past 36 years, Japan has retained the mantle of Australia's largest trading partner," Commsec chief equities economist Craig James said. "Now that mantle is held by  Chinese mainland."

Japan remains the main destination for Australian exports at 32.4 billion dollars, while China is the main supplier of imports to Australia at 27.5 billion.

James said Australia-China trade had doubled in the past three years as the Asian giant's industrialisation had created huge demand for resources.

"In mid-2004, China was Australia's third largest trading partner behind Japan and the US," he said.

"But the massive growth of the Chinese economy since that time has seen its demand for resources soar together with its output of inexpensive, high quality manufactured goods."


James said the relationship between Australia and China would continue to flourish.

"The trading, cultural and political relationship with China will grow more and more important in coming years," he said. "Australian companies that fail to embrace the importance of China to the Australian economy will quickly fall behind."

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Post time 2007-8-31 17:47:55 |Display all floors

Congratulations China !

On becoming our top trading partner.

I understand that trade with China has increased, surpassing Japan, rather than Japan's trade relationship decreasing, so it's a win-win for all!
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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Post time 2007-8-31 17:56:00 |Display all floors
Originally posted by chinadaily at 2007-8-31 16:20
China overtakes Japan as Australia's largest trading partner

China has overtaken Japan as Australia's number one trading partner, according to official figures released Friday.

The Australia ...


I’d like to think this would be an optimistic sign for the relations between the two countries. China’s prosperity is definitely in Australia’s interests. Furthermore, from the excellent relations that Australia has with Japan, you can see how trade has the potential to build mutual understanding, and positive alliances.

Even though logic stipulates that good relations between Australia and China should flow from these positive trade figures, you just never know with China. For example, it likewise has massive trade with Japan, but the relationship between the two is terrible. Then you look at some of the negative comments about Australia from the “Chinese” on this board and you can see that logic sometimes goes out the window. Admittedly, one or two of these posters has been assimilated into Australia’s left-wing culture, so all you can expect is negativity from them, but you still have to wonder why their posts seemed to be encouraged by the newspaper.

Anyway, let’s hope the dissenting voices remain in the minority and that the good relationship that Australia has with Japan can be replicated with China. It would be win win all round.
The eunuch should not take pride in his chastity

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Post time 2007-8-31 18:07:15 |Display all floors

More than meets the eyes

CD, the significance of that for Australia is more than meets the eyes. When you talk about bilateral trade you also factor in the relative risk of one to the other. And when you talk about risk, then you have to differentiate between the imports used for domestic consumption and those that are inputs into processes for re-exports.

If you would do some research, you would find that in 2003 about 80% of imports from Australia are used for domestic consumption in China. This means that should there be a slowdown in China, Australia will feel the knock on effect. They used to say when Japanese economy sneezes, Australia catches a cold.

There are some Australians here like tikoli and Emu who would tell you that China is not important to Australia. Show how uninformed and simple-minded these people are. Don't forget their attitude towards us over the last 25 years, Australia is not a reliable partner. We have made it too easier for these Australians, they take it for granted they can walk all over East Asia.
Let the dice fly high

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Post time 2007-8-31 18:38:36 |Display all floors

Australia driven by opportunism rather than commitment!

It is important for Australia to have a relationship with China.

It is not that important for China to have a relationship with Australia.

The fact that Australia has been steadily dis-investing, in terms of DFI, in East Asia indicates that Australia has no long term commitment to East Asia and its entrenched "we-are-not-part-of-Asia" mentality still influences Australian decision making process.

What we are witnessing now is another Australian opportunistic grab! As recent as the 1997 Currency Crisis, Australia grabbed what it could and ran away, leaving China and Singapore to hold the region together.
Let the dice fly high

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Post time 2007-8-31 18:51:27 |Display all floors
Originally posted by cestmoi at 2007-8-31 18:38
It is important for Australia to have a relationship with China.

It is not that important for China to have a relationship with Australia.

The fact that Australia has been steadily dis-invest ...


From a perspective of social leadership, I’d agree with you and say that Singapore is the shining light in the region. The small nation really does appreciate that the prosperity of the region will positively affect its own prosperity and has done a great job trying to bring it together.

Whether it is bringing the region together via investment; however, is a little more dubious. I haven’t analysed the figures, but if a nation of four million people is able to use its financial might to prop up the economies of three billion people, then I would say that there is a degree of under achievement going on.
The eunuch should not take pride in his chastity

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Post time 2007-8-31 19:43:31 |Display all floors

More shyte from Mengzhi

Originally posted by cestmoi at 2007-8-31 20:07
They used to say when Japanese economy sneezes, Australia catches a cold.

Who says that. I've never heard that expression used in relation to Japan and Australia.
Are you just making up crap again, Mengzhi?

Originally posted by cestmoi at 2007-8-31 20:07
There are some Australians here like tikoli and Emu who would tell you that China is not important to Australia.

When have I said that, Mengzhi? You're just mouthing off more bullsh!t, incredible!

Originally posted by cestmoi at 2007-8-31 20:07
Don't forget their attitude towards us over the last 25 years, Australia is not a reliable partner...

And just how have we been unreliable, eh?
Look at all those Chinese students we took in when hundreds of their schoolmates were k*****d back in eighty nine !
Look at the long term deal China's got for cheap LNG from Australia!
"他不是救星, 他是一个非常淘气男孩" - Monty Python

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