Is Australia Entering a China-Driven 20-Year Resources Boom? (Part 1 of 2)

PERTH, AUSTRALIA--March 11, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--A senior executive of the Reserve Bank of Australia has recently predicted that Australia will enjoy a China-led resources boom that will last for the next 20 years. Phillip Lowe, the assistant governor of the Reserve Bank, which is Australia's central bank, used a speech last month on global economic conditions to reveal that the Reserve Bank is very bullish about the Australian economy. In particular, Lowe felt that China was becoming increasingly reliant on Australia to supply the raw materials to make steel. Steel is the key component necessary in building China's infrastructure and fuelling the country's minimum annual growth of 8%, which China's leaders believe is required to avoid internal unrest in the country.