shine trader limited reports

Consulting firm Ernst & Young praises Australia’s higher education market

shine trader limited reports:

In his speech at the Crawford Leadership Forum of Australian National University, finance minister Josh frydenberg outlined his so-called “China +” strategy, urging enterprises to diversify into new markets and reduce their dependence on China’s largest trading partner.

China Australia Trade decoupling, consulting firm Ernst & Young sing down the Australian higher education market

China Australia Trade decoupling, consulting firm Ernst & Young sing down the Australian higher education market

Australian enterprises should reduce their dependence on the Chinese market

Chen Hong, President of China Australian Research Association and director of the Australian research center of East China Normal University, pointed out:

Frydenberg’s speech reflects that the Australian government’s cognition is seriously divorced from the international economic reality, and its judgment on the current relationship between China and Australia is completely wrong.

In recent months, there have been no new economic and trade disputes between China and Australia, and the trade volume has repeatedly reached new highs.

In this context, frydenberg clamored for decoupling, and asked Australian enterprises to adjust their business direction, market and pattern, reduce or even eliminate the demand for the Chinese market in their business, and find a new market that completely replaces China, which is obviously unrealistic.

Frydenberg ignored the Australian economy affected by the decline in Sino Australian Trade and the rational appeal of business owners, and decided to go further and further on the road of confrontation with China.

At present, Australia has little intention to return to rationality in its China policy, which is bound to bear the cost of ignorance and madness.

“Study abroad market cannot be lost” is a paradox

In his speech, frydenberg not only shouted about the “China +” strategy, but also mentioned that after the vaccination rate in Australia is reached, foreign students can quickly return to Australian universities.

China Australia Trade decoupling, consulting firm Ernst & Young sing down the Australian higher education market

“The return of foreign students can bring benefits to the Australian economy and universities. With the improvement of the vaccination rate, when the vaccination rate of people over the age of 16 reaches the goals of 70% and 80%, Australia will have the conditions to accept foreign students and be able to pick up foreign students to return safely.”

Frydenberg pointed out that Chinese students are the largest group of international students in Australia. Compared with students from India and other countries, this group had a smaller decline during the epidemic.

Although the decline rate during the epidemic is small, the far-reaching impact on Australia’s international education exports may lag behind.

At the same time, it is wishful thinking to judge optimistically that after the vaccination rate reaches the standard, foreign students can actively return to Australia.

You know, ignoring the relationship between the two countries and only talking about the benefits of studying abroad is Australia’s shortsightedness and unrealistic fantasy.

How important are Chinese students to the Australian economy

China is Australia’s most important trading partner and the country with the largest number of students studying in Australia (for five consecutive years).

According to the data of the Australian Bureau of statistics for 2018-2019 (before the epidemic), international education revenue contributed a $37.6 billion to Australia’s GDP, making it Australia’s third largest export industry (second only to iron ore and precious metals, surpassing beef and barley).

Among them, Chinese students contribute 30% of Australia’s total international education income.

China Australia Trade decoupling, consulting firm Ernst & Young sing down the Australian higher education market

Four out of every 10 international students in Australia are from China.

Among the international students of the University of New South Wales, Chinese students accounted for 68.8%, and among the international students of the University of Sydney, Chinese students accounted for 66.7%.

In 70% of colleges and universities in Australia, Chinese students account for more than 50% of international students, and the school income is extremely dependent on the tuition fees of Chinese students.

In 2019, the growth rate of Chinese students studying in Australia slowed down, mostly concentrated in the eight famous universities. Among the eight famous universities, only five universities are growing, namely the University of Sydney, the University of New South Wales, the University of Queensland, the University of Melbourne and Monash University.