Despite spectacular bounce-back growth in the first half of the year, China’s economy had slowed dramatically by year’s end. Worries centred on the property market, a perennial concern for over a decade due to fears of overheating.
Australia must learn to navigate the economic realities of China relations
Australia’s export of 12 disrupted goods to China slumped by a combined US$12.6 billion in 2021 compared to the same period in 2019. China’s total import values increased for seven of the 12 goods, with many other countries picking up the lost Australian sales.
China’s rapid growth since its accession to the WTO — per capita incomes are now well over four times as high today as they were in 2001 — was the single most important poverty-reducing event of the past century
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