Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth #heinberg

Australia, Meet the Post-Growth Economy

postcarbon.org 08 Oct '12, 6pm

Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth #heinberg

Australia is betting its future on resource extraction for a growing China, hoping its own economy will expand to support up to twice as many people by mid-century. The folly of this strategy is exposed as China’s manufacturing falters. That lowers the price Beijing will pay for Australia’s export commodities, dashing profit expectations for Aussie industries that have spent billions building export terminals and related infrastructure. When Resources Minister Martin Ferguson told ABC that “the resources boom is over,” he was uttering an unwelcome truth. The government’s plan is to boost mining rates to make up in volume for what is lost in per-unit price. But a glut in supply will lower commodity prices even more. Unless the nation changes course, Australia is set to suffer the fate of all resource “boom towns.” Here’s the situation in schematic. As economies in America a...

Full article: http://www.postcarbon.org/article/1234730-australia-meet-...

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@ccpond » 11 Oct '12, 5am
Australia, Meet the Post-Growth Economy [link] via @zite
@MRfacilitation » 10 Oct '12, 8pm
RT @nspgreengal: Richard Heinberg introduces Australia to the post-growth economy #peakoil [link]
@NewSocietyPub » 10 Oct '12, 8pm
Richard Heinberg introduces Australia to the post-growth economy #peakoil [link]
@planetkooler » 09 Oct '12, 8pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@postcarbon » 09 Oct '12, 8pm
Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@parkstepp » 09 Oct '12, 2pm
RT @GaianCollective: Australia, Meet the Post-Growth Economy [link]
@OccupyPerth » 09 Oct '12, 6am
RT @edwardcrmiller: #Australia teeters towards a #postgrowth economy as #chinese growth dries up [link]
@edwardcrmiller » 09 Oct '12, 1am
@karun777 #Australia teeters towards a #postgrowth economy as #chinese growth dries up [link]
@jaypeg » 08 Oct '12, 6pm
Australia, Meet the Post-Growth Economy: By , posted Oct 8, 2012: Australia is betting its… [link]
@GaianCollective » 08 Oct '12, 6pm
Australia, Meet the Post-Growth Economy [link]
@nspgreengal » 10 Oct '12, 8pm
Richard Heinberg introduces Australia to the post-growth economy #peakoil [link]
@moonjuju » 10 Oct '12, 2pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@wilsonvoight » 10 Oct '12, 2pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@juubke » 10 Oct '12, 4am
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@jaumetet » 09 Oct '12, 10pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@amandamcdc » 09 Oct '12, 9pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@mtchl » 09 Oct '12, 9pm
RT @postcarbon: Race to the Bottom: Australia Bets on China, China Bets on Infinite Growth [link] #heinberg
@PerthIndyMedia » 09 Oct '12, 6am
RT @karun777: RT @edwardcrmiller: #Australia teeters towards a #postgrowth economy as #chinese growth dries up [link]
@karun777 » 09 Oct '12, 6am
RT @edwardcrmiller: #Australia teeters towards a #postgrowth economy as #chinese growth dries up [link]
@LucQcMxDe » 09 Oct '12, 12am
Australia, Meet the Post-Growth Economy - [link]
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Australia, Meet the Post-Growth Economy [link]
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Australia, Meet the Post-Growth Economy: [link]