China slowdown: Global impact

Australian analysts look to possible stimulus programme

China is Australia's biggest source of tourists, with more than 1.4 million arrivals last year, worth about A$11.5 billion to the economy.
China is Australia's biggest source of tourists, with more than 1.4 million arrivals last year, worth about A$11.5 billion to the economy.PHOTO: ST FILE

The prospect of a Chinese slowdown has brought about little panic in Australia, where analysts believe it will lead to a stimulus programme that will ensure strong demand for Australian resources.

The Australian economy is deeply reliant on its booming trade with China, which accounted last year for an extraordinary 24.4 per cent of Australia's trade, or A$195 billion (S$264 billion). This was almost as much as the amount of the entire trade with Australia's next three biggest partners: Japan, the United States and South Korea.

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A version of this article appeared in the print edition of The Straits Times on January 29, 2019, with the headline 'Analysts look to possible stimulus programme'. Print Edition | Subscribe