Australia's resources boom is underpinned by increased demand from industrialising China and a rise in export prices. Current depletion rates will soon exhaust currently known reserves of iron ore and coal. This paper presents a dynamic optimisation model of a growing open economy where a social planner chooses the time path for depletion of a non-renewable resource during a demand-led resources boom. We find that for particular functional forms and in the absence of extraction and social costs, the optimal depletion rate equals the difference between the price elasticity of export demand times the world interest rate and growth in export demand. In contrast to the existing literature, we show that the optimal depletion rate is unaffected by a temporary increase in price, but reduced by growth in demand which is in turn sustained by offshore steel production and urbanisation. The main theoretical implication is that growth in export demand from China reduces the depletion rate. Australian iron ore exports, simulated using this theory, move together with actual volumes over the period 1995-2011, and the error between simulated and actual iron ore exports is lower for the model in this paper than it is for the model without growth in export demand.

This two-volume work provides a comprehensive overview of the Belt and Road Initiative, examining its impact on economic growth, trade, financial systems and international relations. Weaving theory with real-world examples, Joshua makes an important contribution to the understanding of how the Global Economy is being shaped through these developments. In this second volume, Joshua focuses on the operation of the international monetary system and the effects of the Belt and Road Initiative on both China's domestic economy and the Global Economy. In addition, this volume addresses the consequences of economic growth on the environment and international relations.

This book brings together three distinct areas of International Law – namely Environmental, Heritage and Ocean Law – to address the international legal protection of historically significant wrecks, with particular focus on the environmental hazards they may pose. The confluence of Heritage Law and the Law of the Sea with International Environmental Law represents an important development in international governance strategies for the twenty-first century, in particular those legal and administrative regimes that concern the world’s oceans and underwater cultural heritage protection. Importantly, connections between international legal regimes, such as the 1982 Law of the Sea, and institutions like the International Maritime Organisation (IMO) and United Nations Education Scientific Cultural Organisation (UNESCO), can play a crucial part in governance strategies that involve the regulation of marine pollution and historic shipwrecks.

This report examines the role of rare earth metals and other materials in the clean energy economy. It was prepared by the U.S. Department of Energy (DoE) based on data collected and research performed during 2010. In the report, DoE describes plans to: (1) develop its first integrated research agenda addressing critical materials, building on three technical workshops convened by the DoE during November and December 2010; (2) strengthen its capacity for information-gathering on this topic; and (3) work closely with international partners, including Japan and Europe, to reduce vulnerability to supply disruptions and address critical material needs. Charts and tables. This is a print on demand report.

Disruption has blown the old world apart. The rise of China, Trump's America First policies, division within Europe and successful defiance by authoritarian states are affecting the shape of the emerging new order. Human rights, rule of law, free media and longstanding global institutions all seem set to be weakened. Autocracies are exercising greater control over world affairs. Australia will need to engage heightened levels of diplomacy to forge relations with countries of opposing principles. It will need to be agile in pursuing a realistic foreign policy agenda. China's Grand Strategy and Australia's Future in the New Global Order contains answers for how Australia must position itself for this possibly dystopian future.

Developed economies, experiencing concomitant declining fertility and rising educational attainment, have introduced policies to boost fertility. We model substitution of bought-in services for parental time in the rearing and education of children in an economy where technological progress leads households to choose fewer, but better educated, children. We analyse the effects on fertility and education of a baby bonus, paid maternity leave and child-care subsidies. We establish conditions under which either maternity or child-care benefits are more efficacious in raising fertility, and we establish that a lump sum baby bonus will increase fertility only if the bonus increases faster than income per capita. Policies that stimulate fertility also raise parental investment in education per child.

This open access book is an encyclopaedic analysis of the current and future energy system of the world’s most populous country and second biggest economy. What happens in China impacts the planet. In the past 40 years China has achieved one of the most remarkable economic growth rates in history. Its GDP has risen by a factor of 65, enabling 850,000 people to rise out of poverty. Growth on this scale comes with consequences. China is the world’s biggest consumer of primary energy and the world’s biggest emitter of CO2 emissions. Creating a prosperous and harmonious society that delivers economic growth and a high quality of life for all will require radical change in the energy sector, and a rewiring of the economy more widely. In China’s Energy Revolution in the Context of the Global Energy Transition, a team of researchers from the Development Research Center of the State Council of China and Shell International examine how China can revolutionise its supply and use of energy. They examine the entire energy system: coal, oil, gas, nuclear, renewables and new energies in production, conversion, distribution and consumption. They compare China with case studies and lessons learned in other countries. They ask which technology, policy and market mechanisms are required to support the change and they explore how international cooperation can smooth the way to an energy revolution in China and across the world. And, they create and compare scenarios on possible pathways to a future energy system that is low-carbon, affordable, secure and reliable.