Trade with China: Is a dominant trading partner damaging for economic development?
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Daily, Australian governments and investors scrutinise the latest business data to emerge from China. Shares on the Shanghai stock exchange bounce around wildly and economic growth in China threatens to 'tumble' to 6 per cent! Australia has always had a close eye to what is happening overseas. As economic historian Ian McLean has observed, as a small developing nation Australia always relied heavily on international transactions to drive growth. With the exception of the 1890s depression, there has been a close synchronicity of Australia's trade, investment and labour supply with international trends.