Trade direction & comp.

Question 1

Pre 1960s

Answer 1

The UK main trade partner, agricultural goods. mainly wool and wheat

Question 2

1960s

Answer 2

change to Japan and their economy experienced massive economic growth leading to a large demand for Australia’s commodities to fuel their manufacturing

Question 3

2000s

Answer 3

China’s economy grew exponentially and therefore also demanded Australia’s commodities

Question 4

~2010s

Answer 4

• GFC slow down globally
• China sustained demand for Australia’s commodities
• China solidified their position as Australia’s largest trading partner
• mining boom due to large aggregate demand for ores and minerals
• China 20.4%
• US
• Japan
• Europe

Question 5

2020