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  • A History of the Pan-Pacific Coal Trade from the 1950s to 2011: Exploring the Long-term Effects of a Buying Cartel

    Author(s)
    Bowden, Bradley
    Griffith University Author(s)
    Bowden, Bradley
    Year published
    2012
    Metadata
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    Abstract
    Since the early-1960s the Pan-Pacific coal trade has underpinned East Asia's industrial development. While the genesis of this trade lay in investment decisions by United States-based companies who pioneered exports from Australian and western Canadian mines, its development was largely shaped by the strategies of the Japanese steel mills who acted as a buying cartel. By the early 1980s this cartel had engineered an oversupplied market characterised by constantly falling prices. By 2001, however, this strategy proved counter-productive, as exports of coking coal in particular were concentrated in the hands of an oligopoly ...
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    Since the early-1960s the Pan-Pacific coal trade has underpinned East Asia's industrial development. While the genesis of this trade lay in investment decisions by United States-based companies who pioneered exports from Australian and western Canadian mines, its development was largely shaped by the strategies of the Japanese steel mills who acted as a buying cartel. By the early 1980s this cartel had engineered an oversupplied market characterised by constantly falling prices. By 2001, however, this strategy proved counter-productive, as exports of coking coal in particular were concentrated in the hands of an oligopoly of super-efficient producers that drove up prices.
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    Journal Title
    Australian Economic History Review
    Volume
    52
    Issue
    1
    DOI
    https://doi.org/10.1111/j.1467-8446.2012.00338.x
    Subject
    Applied economics
    Economic history
    Organisation and management theory
    History and philosophy of specific fields
    Publication URI
    http://hdl.handle.net/10072/46405
    Collection
    • Journal articles

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