China's Continued Growth means 20 More Good Years of Growth for Australia

According to the Sydney Morning Herald, the Reserve Bank of Australia (RBA) stated that China's economic growth has a few more decades to run.

During this time, the Australian economy is expected to benefit from this continued growth.

RBA Assistant Governor of Economics Philip Lowe stated that the "continuing urbanization in China and its subsequent investment in infrastructure will be a boon for the Australian economy."

"I am quite optmistic that story has some decades to run and that underlies much of the positives for the Australian economy," Dr Lowe said in response to a question at the Committee for Economic Development of Australia (CEDA) half day forum in Sydney on Thursday, February 18.

"There are clearly going to be some ups and downs in the size of Chinese investment, and that will have an effect on us. For the next 20 years, on average, it is going to be a good 20 years for China and us."

China is Australia's largest export market.

Dr. Lowe indicated that any suggestion that we are coming to the end of the boom in major capital building in China was unlikely.

"Somehow that China is overdone with capital investment, I think that is a bit of a stretch", he said "They can go on for many years."

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