Australian Regulatory Framework on FDI and its Application to Chinese Investment

Xueli Huang and Ian Austin

Chapter 3 in Chinese Investment in Australia, 2011, pp 48-70 from Palgrave Macmillan

Abstract: Abstract The Australian economic structure has changed significantly since the 1960s, becoming increasingly reliant upon the mining sector, including minerals, oil and gas. Before then, Australia was widely portrayed as a nation that “lives on the sheep’s back”, with its agricultural and pastoral activities accounting for more than 15–35 per cent of its GDP (Caves & Krause, 1984). However, these sectors have declined steadily, only accounting for 3.6 per cent of national GDP in 2009. The mining sector, conversely, has increased from about 2 per cent of the national GDP in 1921 (Caves & Krause, 1984) to 7 per cent in 1991, remaining relatively stable (6.51–7.5%) over the past two decades (ABS, 2010a). In fact, the Australian mining industry has been the driving force of its national economy since 2005. Mineral exports accounted for 44.8 per cent of total exports from Australia, reaching A$284.7 billion in the 2008–09 financial year (Australian Bureau of Agricultural and Resource Economics, 2010). Therefore, Australian mining industries are regarded as a crucial source for long-term national income and employment.

Keywords: Foreign Investment; Rare Earth Metal; National Interest; Australian Economy; Australian Government (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31415-3_3

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DOI: 10.1057/9780230314153_3

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