Outlook On The Australian Economy & Its Ties with Asia

Two of Sydney’s Consultants, Jan Rieche and Chloe Ralph, attended a Business Lunch organised by the FACCI where Paul Bloxham, Chief Economist at HSBC Australia & New Zealand presented an outlook on Australia’s connections with Asia in terms of the economy.

Paul Bloxham is Chief Spokeperson for HSBC on forecasts and trends for the Australian and New Zealand economies and their interaction with global financial markets and international economies.

Paul highlighted that Australia’s population is becoming more Asia-integrated due to strong migrant flows, which should help to facilitate greater trade and financial ties with our neighboring continent. As noted by the French Australia Chamber of Commerce:

“While direct financial linkages to Asia are still small, they are expected to strengthen as Asia’s financial system matures.”

Paul added that “growing links to the fast-growing Asian economies are a key reason for the continued optimism about Australia’s growth prospects.

Those main links to Asia would be that the global growth is still set to be dominated by Asia; as Australia’s mining sector slows down, other sectors are picking up; Asia’s rise will drive more than just the mining boom; education, tourism and food exports are set to rise, as well as capital flows.”