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Here’s a remarkable chart from Deutsche showing how Australia captured by far the largest share all of the China boom upside for iron ore:
One advantage in being a quasi-banana republic is that there are relatively fewer impediments to swift development. It’s a shame what happens you try to keep a fair share of the profits, however…
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.