The French-Australian Chamber of Commerce and Industry is delighted to invite you to its 2018 Economic Outlook Briefing with Paul Bloxham, Chief Economist at HSBC Australia & New Zealand. The event will take place on Tuesday 13 February from 12pm to 2pm at the premises of our Corporate member Lawson Delaney and will include a light buffet lunch.
Riding Asia's tailwind: Australia's broadening growth opportunities
Australia's economy has outperformed most of the developed world in recent years, having completed 26 years of continuous growth. Both luck and good management have played a role. A key element of the story has been Australia's growing ties to the Asian economies and shift in the ‘centre of gravity’ of the global economy towards Asia. This is set to continue as Asia's demand for commodities, such as iron ore, coal and liquefied natural gas continues to rise.
However, the story is not just about resources. Asia's rising middle classes are demanding more services, such as tourism and education. In addition, although services account for only 20% of export values, compared with 55% for resources, services are a larger share of 'value-added', so they drive more downstream growth in Australia than commodity exports. Australia's high-quality food exports, such as meat and dairy, are also being supported by rising Asian demand. Along with broadening trade links, Australia continues to see growing financial and population ties to Asia. While starting from a low base, capital inflows from Asia are continuing to rise as other linkages grow. Businesses and policymakers ought to strive to take better advantage of these broadening growth opportunities.
DATE AND TIME
Tue. 13 February 2018
12:00 pm – 2:00 pm
HSBC Bank Australia Limited
Tower 1, International Towers Sydney
Level 36, Barangaroo Avenue
Sydney, NSW 2000