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China overtakes Japan, economy now second largest


Talking Business is a podcast review of the Australian economy, presented by seasoned business journalists Leon Gettler and Garry Barker, produced in association with the RMIT College of Business. It features interviews with prominent business leaders and expert analysis from RMIT academics.

China overtakes Japan, economy now second largest

This week’s podcast is abuzz with news about China. Leon and Garry discuss China’s overtaking Japan to become the world’s second biggest economy and the implications for Australia.

Also in this podcast:

  • Blusecope Steel, OneSteel, Wesfarmers, Woodside Petroleum, Leighton, Lend Lease and Retail Food Group report strong profits but Gunns says its profits will be halved.
  • The Canadian fertilizer maker Agrium is bidding for AWB, derailing the GrainCorp merger.
  • Sigma offloads its drug making arm to Aspen.
  • David Jones reports increased fourth quarter sales and the chairman of Downer EDI steps down after its profits crash by 98%.
  • Engineering company Macmahon Holdings reports a solid profit while BHP Billiton bids for Potash Corp to expand into the fertilizer business.
  • The price of labour rises marginally.
  • Westfield see improved conditions ahead and the Reject Shop posts a better than expected 23% rise in full year profit while Boral slumps to a full year loss.
  • RBA minutes show the central bank is comfortable with the current level of interest rates while housing affordability crashes.
  • M&A activity in Australia and New Zealand more than halves this year while Virgin Blue announces it will stop flights from New Zealand.
  • ANZ is conducting due diligence on the Korea Exchange Bank.
  • Senior Telstra executives have their bonuses slashed.
  • The Australian internet advertising industry cracks the $2 billion barrier.
  • Australia’s competition chief Graeme Samuel steps aside in the fall out from the DFO debt debacle.
  • Analysts warn that the housing bubble is set to burst with housing prices growing just 0.1% during July.

Press play to listen.


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Garry Barker and Leon Gettler both have established careers with ‘The Age’ newspaper, where Garry Barker is its Technology Editor, and Leon Gettler is a Senior Business Journalist. Gettler also works freelance on a number of other publications.