Two of the world's fastest growing economies are working closely to form strong and meaningful partnerships that will deliver lasting benefits for both nations. It is no surprise that the Chinese economy is something of a global high achiever at present - with the International Monetary Fund recently forecasting a 10 percent growth for the country throughout 2006 and 2007. Many, however, would be surprised to learn that the economy of Western Australia is growing even faster. The WA Government announced last month that its domestic economy grew at 14 percent in the June quarter this year, while China's growth rate for the same period was 11.3 percent. The WA Government has maintained the State's AAA credit rating by delivering a competitive tax regime (recent tax cuts have amounted to 3.3 billion dollars), enabling fast-tracking of approvals for major resource projects and promoting diversification in the State's economy through significant investment for science and innovation.
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