Australia’s Strange China Paradox

Even so, it’s time for Australian leaders to stop complaining about the unfairness of the situation and start addressing the real weaknesses in their underlying economy. For years now, theirs has been, as the title of Donald Horne’s 1964 book had it, a “lucky country.” Arguably, no developed economy has benefited more from the reforms unleashed in China byDeng Xiaoping in the late 1970s. The Chinese boom has led to soaring demand for Australia’s natural resources, such as iron ore, coal and copper.

Read here – Bloomberg

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