Chart of the Day: Smile & Have A Vegemite Sandwich!

Economist

Richard Iley

Macroeconomics

<figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/045/092/original/Screen%20Shot%202018-02-21%20at%203.31.10%20PM.png?1519189381" class="editor-image img-responsive" data-smartkarma-image-id="45092"></figure><div class="content-highlight"><p><strong>Australia's growth model has really been very simple for more than a decade: sell dirt and rocks (specifically iron and coal) to the rest of the world (mostly China).</strong> China's twin real estate and infrastructure booms have helped Australia's exports of these two commodities soar to unprecedented heights. As recently as 2004, Australia's exports of coal and iron ore were only AUD30bn. This had risen to nearly AUD140bn by 2014 with around half of the gain coming after the GFC when China's…</p></div>

Australia's growth model has really been very simple for more than a decade: sell dirt and rocks (specifically iron and coal) to the rest of the world (mostly China). China's twin real estate and infrastructure booms have helped Australia's exports of these two commodities soar to unprecedented heights. As recently as 2004, Australia's exports of coal and iron ore were only AUD30bn. This had risen to nearly AUD140bn by 2014 with around half of the gain coming after the GFC when China's…

Chart of the Day: Dirt & Rocks Vs. Beaches, Books & Beef