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Iron Ore

  • Richard LeaverEmail author
Chapter
Part of the The Political Economy of the Asia Pacific book series (PEAP)

Abstract

As a country that has historically lived off international sales of primary commodities, Australians need to understand better than most the cyclical fashion in which commodity markets move and the risks entailed in that recurring pattern. To that end, this chapter investigates the way that political risks have been, and are still being, handled in the three nations from the Asia-Pacific region that have successively led the world in steel production through the last century—the United States, Japan and China. The implications for Australia, which has now emerged as the world’s largest exporter of iron ore, associated with each of these three regions are sketched out, with greater detail on the ‘super-cycle’ derived from the phenomenal expansion of Chinese steel production in recent decades.

Abbreviations

EAAU

East Asian Analytical Unit

GATT

General Agreement on Tariffs and Trade

GFC

Global Financial Crisis

NSW

New South Wales

OPEC

Organization of Petroleum Exporting Countries

SA

South Australia

UK

United Kingdom

US

United States

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Copyright information

© Springer International Publishing AG 2017

Authors and Affiliations

  1. 1.School of History and International Relations, Flinders UniversityBedford ParkAustralia

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