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So Long As China Keeps Getting Urbanised, Australia Will Be OK

By: International Business Times
Posted: 9/13/2012 11:41:00 PM
Referenced Stocks: RBA

So long as China keeps getting urbanised and demands steel and iron ore to fuel that very purpose, Australia's economy will remain OK.

This is the latest assessment of the RBA Economics Group on the Chinese economy and the world's largest consumer of metals amd Australia's biggest trading partner.

Researchers from the Reserve Bank of Australia ( RBA ) believed that as China's population keeps growing, the country would need to double time to keep at par with the requirements of its rapid urbanization. China's urban population is seen to escalate 42 per cent over the next two decades, representing about 70 per cent of the total population by 2030.

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