Have you stopped to think just how things have changed over the past 25 years?
Just take a look at the global trade figures for the United States, Japan, Germany and Britain.
After the United States, China is now the world’s largest economy. However, it is currently the largest exporter; while being the second-largest importer.
Here’s a cunning question you might care to pose at your next dinner party.
“After the United States and Japan … who is the next largest importer from China?”
You’ll no doubt have to tell them answer — because I’m sure they’ll never get it without your help.
Even you will probably be very surprised to discover it to be Wal-Mart! Rather hard to believe, I know … but apparently true, nonetheless.
That’s how much the global scene has changed. And China has now become Australia’s largest trading partner — one of the key reason for us coasting through the recent global turmoil.
Our trading relationship with the US remains still vital. As, of course, it is with Europe and Japan. Because, the speed of China’s rise mirrors what you saw with Japan in the 1980s. And therefore, any decline could be just as rapid … whenever that may occur.
All things being equal, the Commercial property market should peak in about 2017. But make sure you keep a watchful eye on China’s progress along the way.