Quarterly Essay 54 Dragon's Tail

In Dragonââ,¬â,,¢s Tail, Andrew Charlton explores the supercharged rise of China and considers Australiaââ,¬â,,¢s future as the Chinese dragon stirs and shifts. Chinaââ,¬â,,¢s rise has been perhaps the most significant economic event in two centuries, occurring 100 times more quickly and on a scale 1000 times larger than Britainââ,¬â,,¢s Industrial Revolution. Since 2000, Australia has been an essential part of this transformation, providing the raw materials to feed...
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In Dragonââ,¬â,,¢s Tail, Andrew Charlton explores the supercharged rise of China and considers Australiaââ,¬â,,¢s future as the Chinese dragon stirs and shifts. Chinaââ,¬â,,¢s rise has been perhaps the most significant economic event in two centuries, occurring 100 times more quickly and on a scale 1000 times larger than Britainââ,¬â,,¢s Industrial Revolution. Since 2000, Australia has been an essential part of this transformation, providing the raw materials to feed Chinaââ,¬â,,¢s frantic manufacture of steel vertebrae for everything from cars and trucks to railways, apartments and office towers. Chinaââ,¬â,,¢s appetite for resources has made us richer than ever before, but it has also drained the competitiveness from many parts of our economy, leaving us vulnerable. In Dragonââ,¬â,,¢s Tail, Andrew Charlton shows that Chinaââ,¬â,,¢s growth model is now reaching its limit, and the worldââ,¬â,,¢s most populous economy faces a challenging transition. Whether China crashes, or crashes through, this will have dramatic implications for Australia, slowing the demand for our resources and forcing us to reassess the foundations of our wealth. Charlton looks at ways to revitalise the Australian economy and secure our prosperity in a changing world.