A dramatic change in China is having a profound impact on Australia already – and things looks set to get even worse.It used to be that Chinese growth was primarily driven by urbanisation.
Moving tens of millions of people to cities each year and building them services: housing, infrastructure, business districts, and malls.The peak movement of people is long past, and the population is shrinking. So, the number of people moving each year is falling, which is what matters for construction volumes and commodity inputs.The problem is that nobody can afford them.
Now Beijing is deliberately deflating property prices to make them affordable. By doing so, it is also killing investment in more apartments. It knows the dwellings for the remaining 150 million rural denizens are already built and more! This has all slowed Chinese growth a lot, but it is not going bust. It is shifting the economy from the urbanisation pulse of the past 20 years and investing heavily in human resources, technology and higher-value-added manufacturing instead.For instance, China’s EV boom is awesome as it seizes global leadership.
Chinese Growth Craig James Apartment Towers Sheer Terror Wire Rods Economic Growth Cash Cow Construction Decline Agence France Presse Oceania Ghost Cities Commodity Supplier David Llewellyn-Smith Economics Portal China Founding Publisher Eastern Asia Commodity Inputs Urbanisation Pulse Infrastructure Frenzies Getty Images Inc. Iron Ore Rural Denizens Construction Cliff Construction Steel Construction Volumes Australia And New Zealand Technology Sectors Chinese Economy Chinese Construction Chinese Construction Boom Price Boom Chinese Cars Things Looks Set Urbanisation Advocates Property Prices Asia Australia Economic Growth Targetscommsec Global Economy Editor Building Infrastructure
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sydney Sweeney wows in sheer lace outfitThe actress paired the sheer, skin-baring little black dress with one of her a trademark sexy staples.
Read more »
Demi Moore wows in fully sheer gownDemi Moore may be 61, but someone apparently needs to remind the star of that because the iconic actress has seemingly forgotten to age.
Read more »
‘Sheer panic’: Terrifying I’m A Celeb momentBritish comedian Stephen K. Amos had a scary moment caught on camera in scenes that will play out on Sunday night’s episode of I’m A Celebrity … Get Me Out of Here!
Read more »
When an investigative journalist turns to crime, it’s a ‘sheer delight’Louise Milligan’s first crime novel tells a dark and enjoyable story.
Read more »
Plan to use jail for inmates again sign ‘justice system has collapsed’The Northern Territory Government’s plan to house female prisoners at the site of the Don Dale Youth Detention Centre is proof the justice system has collapsed, according to a top Darwin barrister.
Read more »
AFL veteran Tom Liberatore ‘just collapsed’ in frightening sudden health episode7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »