I worry we might be losing sight of the bigger picture here.
What have the Chinese ever done for us?
Right now it feels like I’m living in a Monty Python skit.
What have the Chinese ever done for us?
I mean sure. There was the mining boom. As the Chinese population pulled themselves out of poverty, it created a once-in-a-century mining boom which we then, largely, pissed up against the wall, or sent off-shore into the pockets of foreign mining companies.
But didn’t we have some good times while it lasted?
But apart from the mining boom, what have the Chinese ever done for us?
Ok, yes, China pretty much single-handedly saved us from the GFC. They did that. As the rest of the world ate dirt, Australia became the ‘miracle economy’. The reason you probably still had a house in 2010 was because Chinese demand propped up the entire market.
Alright. Fair point. But apart from the mining boom…
… and saving our hides during the GFC,
…what have the Chinese ever done for us?
Crunched the cost of living? Ok, yes, they did that too. As the massive production capacity in China came online, stuff got cheap. Crazy cheap. You know this first hand. We don’t expect the cost of anything for sale in K-mart to ever go up. It only ever goes down.
And that meant we had more room in our budgets to spend on holidays or gift-cards or whatever.
Ok, so apart from the increase in spending power,
… the recue helicopter during the GFC,
… and the mining boom,
… what have the Chinese ever done for us?
Invested in the housing stock? Yeah, I guess they did do that. Chinese developers were super-active in the market at a time when we were crying out for more houses. Now that they’re gone, we’re tipping back into a housing shortage.
So ok, apart from building our houses,
… crunching the cost of living,
… the lifeline during the GFC,
…. And the mining boom,
What have the Chinese ever
done for us?
Hmmm? Ok, yes alright. There’s the tourism and education sectors. They both caught a massive bid as China quickly became our number one source of both tourists and students.
I read recently that one in five students at Sydney University are from China. Not Asia more broadly. Just China.
Tourism operators and University Chancellors have made hay while the Chinese sun shone.
So, they reinvented our tourism and education sectors…
… and built our houses,
… and made everything cheap,
… and saved our economy,
… and made our miners rich…
… But apart from that?
Well, I guess you could argue that the entire Australian nation was built on the humble work of Chinese people. The gold-rush would never have happened without the logistical support of Chinese people.
So ok! Apart from playing a pivotal role in the shaping of modern Australia, what have the Chinese people ever done for us?
—
I think we need to take a bit of a look at ourselves, Australia.
I’ve seen quite a few people posting memes and poking fun at Chinese people over the whole Coronavirus story.
C’mon. We’re better than that.
These are real people we’re talking about. People stuck in a country that is struggling to deal with an epidemic.
(That could be you and Australia within the month).
And you might say that your problem is not with the Chinese people, but with the Chinese government.
But I didn’t hear you complaining when China gifted us with an economic miracle, just like I didn’t hear you complaining when our politicians sold off our ports and milk-producers and souls to their politicians.
No, laughing at the Chinese people is easy… and gutless.
Stop it.
JG.
David Skillen says
Well said. My sentiments exactly. They have been a secretive government, they have a poor human rights record and we need to see that change. But when it comes to financials, Australia has done well in its trade relationships with China. Prime among these is the continuity of the mining boom in GFC day’s and now not only the continued value of the mining industry, notably iron ore, but also the education industry’s reliance on Asian students. Significant. Every home and land owning Australian, and that’s almost every adult if you also consider investments of your superannuation funds, has Chinese folks to thank for such a sustained and strong real estate values bull run.