10 Mar 2017
This week’s readings provide views and analysis on Australia and the global economy.
- Australia’s wine exports to China climbed by 40pc to $520 million in 2016.
- Australia’s Federal Government will invest $151.5m in four CRCs (new Cooperative Research Centres) dedicated to a range of Australian industries, from food and transport logistics to farming and honey bees.
- The World Bank said that to unlock the potential of the digital age, Europe must go beyond internet access.
- The World Development Report 2017: “Governance and the Law explores why some policies fail to achieve desired outcomes and what makes other policies work”.
- A report published by the Asian Development Bank shows that “Infrastructure needs in developing Asia and the Pacific will exceed $22.6 trillion through 2030, or $1.5 trillion per year”.
- In an IMF blog, Re-visiting the Paradox of Capital: the Reversal of Uphill Flows, the Fund revisits the uphill flow puzzle (that capital flows ‘uphill’ from poor to rich economies) and discusses its policy implications. They show that uphill flows, after intensifying ahead of the global financial crisis, have recently reversed direction.
- Global economic growth is expected to pick up modestly next year to around 3.6 per cent from a projected 3.3 per cent in 2017 but risks of rising protectionism, financial vulnerabilities, potential volatility from divergent interest rate paths and disconnects between market valuations and real activity all hang over the outlook, according to the March 2017 OECD Economic Outlook