For the first time in its 223-year history, Australia has accepted more Chinese than British immigrants as the nation strengthens ties to the world's fastest-growing major economy.
Australia took in 29,547 migrants from China, or 17.5 per cent of the total migration program in the year to June 30, compared with 23,931 from the UK and 21,768 from India, Immigration Minister Chris Bowen said today.
“Skilled migrants deliver significant benefits to the Australian economy as their employment contributes to economic growth and their relative youth offsets some of the impacts of the aging labor force,” Mr Bowen said.
Australia is undergoing a surge in resource investment as mining and energy firms boost output to meet demand from China and India. Reserve Bank governor Glenn Stevens faces a developed-world rarity: wage pressure in an economy near full employment.
Economists predict tomorrow's data will show that the jobless rate held at 4.9 per cent in July, staying under 5 per cent for a fifth straight month.
Treasury Secretary Martin Parkinson, the Treasury's top bureaucrat, said in a May 17 speech that Australia will feel a “significant” impact from the emergence of India and China, two economies that account for more than a third of the world's population and are growing rapidly.
Skilled labor
A Chinese embassy official said last month Australia needs to address its shortage of skilled labor and infrastructure bottlenecks to maximise China's investment in the country.
“Chinese enterprises have experienced difficulties during their investment and operation in Australia,” Ouyang Cheng, second secretary for economic and commercial affairs of the Chinese Embassy in Australia, said in a speech in Adelaide.
Australia operated a discriminatory immigration program, known as the White Australia policy, that was only completely dismantled in 1973. As late as 1988, John Howard, who went on to become Australia's second-longest serving prime minister, called for reduced Asian immigration for the sake of “social cohesion”.
Bloomberg
Australia took in 29,547 migrants from China, or 17.5 per cent of the total migration program in the year to June 30, compared with 23,931 from the UK and 21,768 from India, Immigration Minister Chris Bowen said today.
“Skilled migrants deliver significant benefits to the Australian economy as their employment contributes to economic growth and their relative youth offsets some of the impacts of the aging labor force,” Mr Bowen said.
Economists predict tomorrow's data will show that the jobless rate held at 4.9 per cent in July, staying under 5 per cent for a fifth straight month.
Treasury Secretary Martin Parkinson, the Treasury's top bureaucrat, said in a May 17 speech that Australia will feel a “significant” impact from the emergence of India and China, two economies that account for more than a third of the world's population and are growing rapidly.
Skilled labor
A Chinese embassy official said last month Australia needs to address its shortage of skilled labor and infrastructure bottlenecks to maximise China's investment in the country.
“Chinese enterprises have experienced difficulties during their investment and operation in Australia,” Ouyang Cheng, second secretary for economic and commercial affairs of the Chinese Embassy in Australia, said in a speech in Adelaide.
Australia operated a discriminatory immigration program, known as the White Australia policy, that was only completely dismantled in 1973. As late as 1988, John Howard, who went on to become Australia's second-longest serving prime minister, called for reduced Asian immigration for the sake of “social cohesion”.
Bloomberg
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