Commodity markets

Australia is going through a structural transformation – away from raw materials exports

Australia is going through a process of economic diversification. The country is an important global supplier not only of iron ore, coal, bauxite and various precious metals, but also of liquid gas. As such it is feeling the pinch of the end of the super cycle and the steep fall in prices in these markets. It also needs to change the focus of its production structure in order to put an end to its dependency on raw materials exports and to be able to maintain high economic growth in the future. Since 2013 investment and employment in Australia’s raw materials sector have been declining. The conservative Prime Minister, Malcolm Turnbull, aims to accelerate the restructuring process by political means. As regards corporate restructuring, Turnbull is focusing especially on smaller companies. Worthy of note here are his plans to promote tourism and tourism-related services as revenues from tourists from China and…

1 3 4