Wandering China

An East/West pulse of China's fourth rise from down under.

[Australia’s] bill to China: $5100 per family [The Age]


Sino-Australia economic interdependence in focus. From the Allen Consulting Group: Australian households spend $5100 each on goods from China. Where I am based in Victoria, the figure’s $7000.

At the same time, the report finds that China is also the largest consumer of Australian exports – ‘In 2010-2011, China imported over $70 billion of goods and services from this country, or about $8300 for every household. This represents nearly a quarter of all Australian exports.’

For more, see Allen Counsulting Group and the Australia China Business Council

– – –

Our bill to China: $5100 per family
Peter Cai
Source – The Age, published April 3, 2012

EVER wondered how much you spend on Chinese goods every year? Now there is an answer.

According to a research report, Australian households spend $5100 each on goods from China.

According to the Allen Consulting Group, more than $43 billion worth of manufactured goods from China were imported into this country last year alone – mostly telecommunications equipment, clothing and computers.

The import of Chinese goods has increased by 16 per cent from the previous year. That influx has helped to ease the burden on cash-strapped Australian consumers dealing with the soaring costs of housing, health and education products, in turn reducing the pressure on inflation.

Frank Tudor, the chairman of the Australia China Business Council which commissioned the report, said: ”You only need to go down to your local Bunnings store to see the benefits of trade with China. The range of housing renovation products reflect the diversity, quality and cheapness of the Chinese goods. These imports have been important for inflation to be kept in check.”

NSW and Victoria are the two largest importers of Chinese goods and an average Victorian household had consumed over $7000 worth of Chinese goods last year.

At the same time, China is also the largest consumer of Australian exports. In 2010-2011, China imported over $70 billion of goods and services from this country, or about $8300 for every household. This represents nearly a quarter of all Australian exports.

Western Australians are by far the largest beneficiaries.

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Filed under: Australia, Beijing Consensus, Chinese Model, Domestic Growth, Economics, Influence, International Relations, Public Diplomacy, Soft Power, Strategy, The Age, Trade

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