According to the latest figures from the Australian Bureau of Statistics, Australian economy has not been in recession for 26 consecutive years, the continuous growth of GDP isrealized. In addition, according to the Reserve Bank of Australia, GDP is expected to increase with economic effects ofthe mining booming in its final stages.

The mystery of economic growth without recession for 26 years

Many experts and scholars thought that Australia has long been known as the "best countryfor living in the world", attracting immigrants from all over the world to settle in Australia. The Hon. Scott Morrison, the Treasurer of Prime Minister Turnbull’s Cabinet said, "a whole generation of Australians have grown up without knowing what the recession is. It's a remarkable national achievement, but we can't take it for granted." The situation was very different from 30 years ago, at that time the Premier of Singapore, Li Guangyao stated that Australia could possible become a "poverty country of white people in Asia."  Since a reform took place in 1983, the aspects in the reform included freedom of movement in the exchange rate, deregulation of some financial controls, tax reform, tariff cuts, an end ofcentralized wage distribution and the building a private pension system, etc., put a full stop on the devastating economy of Australia in 8 years of time.

In year of 2000, the introduction of a Goods and Services Tax was also a successful reform by John Howard, the Liberal Leader, the Federal Prime Minister of Australia.  When the time of Australia's economic growth began to wane, China emerged as being the second-largest economy of the world, and demand for Australia's resources soared. It saved Australia from the global economic recession. Since then, the price of commodities has going up and brought a lot of wealth to Australia. According to the 2016 Australian Trade composition report released by the Australian Department of Trade, China remains Australia's largest trading partner, with a total bilateral trade of $151.2 billion in middle of 2016, it’s about 23.1% of Australia's total trade.

Australian experts urge that relationship to China shall go closer

Professor Betts Gill, Asia Pacific School, Australian National University and the founder of British magazine “Chinese Vertical and Horizontal” Director Lin Ta-tseng released on the article Reflection on the relationship between Australia and China stating that Australia needs to reconsider its relationship with China. In addition to minor policy changes, this also means looking at long-term strategy.

In term of revenue from export to China,about 1/3 of Australia's exports go to China. Chinese tourist to Australia reaches more than 1 million people a year,it is huge amount in term of quantity and its consuming. Nearly 1/5 Chinese study-aboard students choose to study in Australia. Today,about 482,000 Australian residents are born in China, Mandarin has become the second most common used language in Australia.

Both experts urged that in facing theopportunities and challenges that China will bring into Australia in the future, it may be useful to hold regular meetings of Cabinet members with regards China concerns. Despite Australia's National Security Council has approved a new strategy for China, it is necessary to gather all the federal ministers to discuss China policy; Second, Australian enterprises and governments should join forces to establish a long-term exchange and cooperation plan for reinforcement pillars of Australia and China. Interactive engagement should be involving Australian participants like senior state and federal government officials, legislators and future business executives,and Chinese participants like vice governors and deputy secretaries of provincial party committees, deputy mayors of major cities and future business leaders.Third, for the unpredictable future and forthcoming challenges, Australia needsa national department  responsible for promoting Australia-China relations on top level.  Finally, it is necessary a systematic set up for promotion and learning of Asian languages, especially Mandarin.

The dynamism of "One Belt and One Road" brings opportunity and prosperity to Australia

Australia and China have cooperated in a number of areas, to go together under the construction of "Belt and Road" construction, and have generated a fruitful result.  Australia and China need to extent the scale of cooperation, carry out more cultural exchanges on the base of specific projects, deepen understanding with each others’ national conditions and cultures. Believed that the China-Australia Free Trade Agreement, Asian Infrastructure Investment Bank and the construction of “One Belt and One Road” will provide lots of opportunities for Australian involvement, and through the participating, we will have a greater influence towards regional and world affairs.

Senior Research specialist of Australia  Mr. Chen Xinguang