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Australian Economic Overview
As the US economy shows some real signs of growth, so
too is the Australian economy growing and keeping itself
well placed within the international market place. Despite
the US growth, the $US remains weak against most overseas
currencies, including the $A. The $A was trading at
US73.68 cents at the time of writing. The Australian
official interest rates were raised by 0.25% again on
December 3, after having risen by the same about a month
earlier. The official rate is now 5.25% compared with
the US rate of just 1%. This low rate has been indicated
by the US
Federal Reserve to be the likely rate for some time
to come. This rate differential is helping strengthen
the $A. As well, there is evidence that commodity prices
are strengthening, which will further enhance the Australian
economic outlook for 2004.
The Australian manufacturing sector has posted a sharp
rise in activity over the past 2 months, with 11out
of 12 manufacturing sectors surveyed having reported
an increase in new orders. At the same time the unemployment
rate is at a 22 year low of 5.6%. This is the same rate
now for 3 months. All these indicators point to a strong
economic base at the end of 2003, with consumer sentiment
and business confidence both strong.
A final positive indicator of the economy is that of
new motor vehicle sales. Again, the increase in local
sales is 11.2% up on 2002. Australian automotive exports
for 2003 have totalled almost $5 billion.
.Forest Industries Research
The Australian forestry industry in the state of Queensland
is the setting for long-term collaborative research
efforts designed to substantially lift hardwood production,
particularly the productivity of tropical and subtropical
hardwood tree plantations.
The objective is to substantially reduce the industry's
reliance on hardwood products sourced from native forests
by establishing commercial hardwood plantations, which
will produce more high-grade wood, faster. The initiative
will have major implications for the future of the Australian
and international forestry and forest products industries.
Research will also be undertaken into the development
of technologies designed to ensure more efficient use
is made of plantation hardwoods in the future.
The development of improved tropical and subtropical
hardwood species will lead to a substantial reduction
in the 60-80 years forestry companies have to wait before
native hardwood trees can be harvested. With 70-80%
of the world's new forestry plantations consisting of
tropical and subtropical tree species, this research
will also have global implications for the industry
in terms of increases in forest production, improved
wood quality and new wood products.
Light Factories - Going One
Better Than Nature
Australian researchers are attempting to perfect photosynthesis,
in an ambitious scheme to generate new foods, fabrics
and even electricity, sustainably.
Algae, cabbages and eucalypt trees make sugars and
starches by using the energy in sunlight. Artificial
photosynthesis in a controlled environment will be able
to offer an astonishing versatility.
Products that could be possible from this research
include proteins and sugars for feeding humans and livestock,
cellulose fibres for use as textiles, isoprene, rubbers
and sealants, and even fuels such as hydrogen and ethanol.
Researchers are working with the Australian National
University and Adelaide University as well as overseas
partners in a series of artificial photosynthesis projects.
Future prospects for this technology include using
artificial photosynthesis for directly generating electrical
energy. Photosynthesis also uses carbon dioxide in the
production of carbohydrates, and large scale artificial
photosynthesis can play an important role in sequestrating
carbon dioxide to counter global warming.
Source - ECOS, Australia's magazine on the science of
sustainability in the environment and industry
Australian Company to Supply
NASA with Space Vehicles
The Australian company, Aerosonde Ltd, based
in Melbourne, has won a three-year contract with NASA
to determine the feasibility of conducting earth science
research using small, unmanned aerial vehicles (UAVs).
The contract will open the door to further joint Australian
and American research opportunities.
Aerosonde's success in winning such a contract is an
excellent example of Australian know-how carving a niche
in world markets. It illustrates the true international
competitiveness of Australian technology. The agreement
calls for NASA and Aerosonde to establish a UAV facility
at the NASA Goddard Space Flight Centre Wallops Flight
Facility, Wallops Island, Virginia.
Included in the agreement is a teaming arrangement
between NASA and Aerosonde to support education programs.
UAVs are recognised as a key future research direction
for the aerospace industry.
Long endurance UAVs have the potential to fill the
gap between satellites and surface networks in an integrated
observing system. This gap is presently limited by pilot
endurance in traditional aircraft.
Reprinted with permission © 2003 The Agar Carlyon
Report
David Taylor is the CEO of Agar Carlyon, an Australian
company, based in Sydney, which assists overseas businesses
seek out Australian partners for their ventures. He
can be reached at: david.taylor@agarcarlyon.com
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David Taylor is the CEO of Agar Carlyon, an Australian
company, based in Sydney, which assists overseas businesses
seek out Australian partners for their ventures. He can
be reached at: david.taylor@agarcarlyon.com. |
