China- can't stop its influence

In the past week China has dominated the news for many reasons. First they arrest an Australian man working for Rio Tinto on the basis of him possessing state secrets. See this is when things get interesting, if a company - Chinalco is run by the government ( their chairman is on the Central Committee of the Communist party) then possessing information about this company becomes a state issue. The resolution of this issue could severly hamper our future trade and economic direction.
Then we get information that China's growth and thus demand for our exports is kicking along nicely. So economists have been saying the Australian economy is strongly linked to China, however China is maintaining a strong grip on change happening too fast at the moment.

In the same article there is some concerning news regarding unemployment - Long term unemployment has reached 107,000 people (out of work for more than 1 year) which means structural unemployment will also increase.

As a last thought the guru article yesterday was worth a read. Asia Pacific- which includes China still has an extraordinarily large amount of people in this region live in extreme poverty. (900 million live on less than $1.25US a day) So despite the large amount of growth and newsprint about the future of China as an economic power a large amount of people have not really benefited yet from the changes to the economy as a more open, globalised entity.

Yr 12 ECO information and Review

"I would rather be vaguely right, than precisely wrong." - John Maynard Keynes

An interesting philopsophy indeed.
This is more information for you upcoming trials and a source of information rather than an alternate source of reading.

Here is the as promised, you can either download it or watch through the blog. External Stability powerpoint

Australia's External Stability

Uploaded on authorSTREAM by Camsutt | Upload your own presentation

I have discovered a good quality web site that may assist you with your understandings and concepts of economics. It is based on the Victorian equivalent of the HSC, however the course is similar and has the same economic concepts.

Here is the link to the site named Mr Wood.