As Goes China, So Goes The World And Definitely Australia Submitted by Tyler Durden on 02/26/2013 18:11 -0500 Australia China Japan While China depends on only one nation for 15% or more of its exports (US 17.3%), Bloomberg's Michael McDonough notes that an incredible 35 nations depend of China for at least 15% of the exports; up from just 4 in 2001. Most are emerging markets or major commodity producers with the shift being driven by China's demand for raw materials, fueled by its investment-led growth model and the stimulus package following the global financial crisis. This gross dependence leaves the world's economy increasingly susceptible to shifts in the Chinese business cycle - most notably Australia which relies on China for a massive 30% of its export demand . This is almost double the next largest developed nation of Japan (which relies on China for 18.5% of its exports) though tensions between the two nations has led to an almost 10% decline in Chinese imports of Japanese goods since September . As we have noted, China has become a key source of FDI in Africa in recent years and 12 of the 20 most-China-dependent economies are from that continent; but as China attempts to transition from investment toward consumption, demand for commodities may slow and downside risk grows for these dependent commodity-producing nations . Charts: Bloomberg Briefs Average: 4.88889 Your rating: None Average: 4.9 ( 9 votes) Tweet Login or register to post comments 7738 reads Printer-friendly version Send to friend Similar Articles You Might Enjoy: China, Japan, And The US - Tying It All Together Guest Post: China, Inflation Gold: China Created Paper Money And Paper Money Then Created Inflation Goldman Downgrades China, Upgrades The Nikkei, As It Hikes Oil, And Other Non-Sequiturs Guest Post: China, Japan And The Senkaku Islands: The Roots Of Conflict Go Back To 1274 French Downgrade Comes And Goes As Europe Open Fills EURUSD Gap
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