Investor Presentaiton
Global megatrends
The global environment in which Queensland competes
has changed radically since the turn of the century and
the pace of change is likely to accelerate in the coming
decades.
Queensland must prepare for the future, and carefully
consider the implications of trends which will transform
the trade and investment landscape globally and within
our Asia-Pacific region.
Brisbane International Airport
Courtesy of Brisbane Airport Corporation
16 Queensland Trade and Investment Strategy 2017-2022
Megatrend 1
The rise of Asia
The world's economic centre of gravity is shifting from
West to East as China and India resume the position
they held until the 16th century as the world's largest
economies.
China, India and Japan will be three of the world's five
largest economies with China and India forecast to
contribute almost 35 per cent of world gross domestic
product (GDP) over the coming years to 2021.12
China's re-emergence as a global economic powerhouse
involved rapid industrialisation and urbanisation.
Its economy had a voracious appetite for steel and
electricity to build its cities and supply its large-
scale manufacturing plants. This caused Australia's
biggest mining boom in 140 years, as demand for
iron ore, coking and thermal coal and LNG soared to
unprecedented heights.
India is investing in new coal technologies. With limited
metallurgical coal resources, India is rapidly expanding
its imports. This demand is forecast to remain high,
while at the same time India transitions to advanced
technologies.
By 2021 Asia will have
three of the world's
five largest economies:
China, India and Japan¹7
India is expected to overtake China as the world's most
populous nation within the next decade 13 and is forecast
to achieve average annual growth rates of 7.8 per cent
over the next few years. 14 China's annual growth rate,
although slowing, is still strong, and is expected to be
about 6 per cent.15
Indonesia, with a population of 260 million, is right on
Queensland's doorstep and has consistently achieved
strong average economic growth of around five per cent
per annum. It is needing to prioritise the development of
modern, efficient infrastructure over the coming five to
15 years.
With a combined population of around 380 million,
the other members of ASEAN - Thailand, Malaysia, the
Philippines, Singapore, Vietnam, Myanmar, Cambodia,
Laos and Brunei - have embarked upon a program of
closer economic integration.
With the economic rise of Asia and corresponding wealth,
major companies and government-owned corporations are
investing in other countries to secure food and resource
supply as well as diversifying their investment interests.
Asia's global share of exports
will almost double
by 2030 to
18
39%*View entire presentation