BLUFAustralia relies on the Chinese market for commodity exports, and how China deals with its economy will have flow-on effects on its trading partners.
This article makes the following points:
- China's third-quarter GDP numbers show a dramatic slowing of activity.
- Domestic policies have severely disrupted global supply chains.
- The COVID Delta strain, shortages of labour and container ships and port closures have created congestion in international supply chains.
- Slower growth and high levels of inflation threaten stagflation.
- The environmental restrictions and soaring coal and gas prices has caused factories to reduce their energy intake by reducing or stopping production.
- China's property crisis of 30 million unsold apartments and many incomplete projects has discouraged buyers and destabilised the industry. This sector accounts for 30% of China's GDP.
- The change in Beijing's policies has severely disrupted the $US100 billion private education industry/
- China has cracked down on big technology companies.
- Sep 2021 Yahoo! Finance The Energy Crisis Is Sending Oil, Gas, And Coal Prices Soaring
- Sep 2021 The Guardian China property market rocked as Evergrande struggles to repay $300bn debts
- Sep2021 Financial Times China slowdown worsens as Covid outbreak exposes consumer weakness
- Oct 2021 9News Australian exports to China defy trade sanctions