An Empirical Analysis of the Impact of China-Australia Education Service Trade on China's Economy

Education service trade is the product of the combination of the trend of global education internationalization and the rapid development of service trade. In recent years, the rapid development has become an important part of international trade. China and Australia are not only important economies in the Asia Pacific region, but also bilateral trade has developed rapidly since the establishment of diplomatic relations, and have been important trading partners of each other. Based on the current situation of education service trade between China, Australia and China, this paper analyzes the trade effect and human capital effect of education service trade between China and Australia on China's economy. The paper draws the following conclusions: China's education service trade has developed rapidly in recent years, and it is a big country of education service trade import in the world, but the total export volume is still small, and the overall situation is that the import is far greater than the export deficit; the structure of import and export is unbalanced, and the import and export objects are different, which indicates that China's education brand advantage is weak. Australia's education service trade started early, and it is the world's largest exporter of education service trade. The overall education service trade is in a surplus state, which shows that Australia's education brand advantage is strong and it is attractive to students from other countries. There is a long-term equilibrium relationship between China and Australia's education service trade and China's economy. Through trade effect and human capital effect, China Australia Education Service import has a positive role in promoting China's economic growth in the short and long term.