Australia’s plan for China bust: trash workers

Thursday 1 August 2024

As the Great China Bust gathers pace, it is interesting to look forward and see what plans the Albanese government has made in advance.

Unlike in 2015, the Treasury is better prepared with conservative commodity price forecasts to help weather the revenue hit.

Using FOB prices means adding roughly $10 per tonne for CFR. So, the rough prices expected are: iron ore $70; coking coal $150, thermal coal $70, and LNG at $11Gj:

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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.