Economic clairvoyants?
Jan 29th 2008, 6:58 am
#1
Forum Regular
Thread Starter
Joined: Jul 2006
Posts: 33
Economic clairvoyants?
Dear All,
It seems that the papers over here are full of doom and gloom regarding the financial prospects for the next few years.
Clearly we are strongly tied to the yanks and if the whole sub-prime fiasco unsettles them then the British economy will also start to wobble.
My question is this, is the Aussie economy linked more closely to the American or the Asian markets? or is it indeed a self sustaining single entity?
My reasons for asking are purely biased, we currently live just outside Manchester where the housing market is looking decidely iffy and are looking to move to the Gold Coast where prices are going through the roof. I am hoping against hope that if there is going to be a global recession that it will peg back prices in Oz a bit and help us bridge the gap?!
Any thoughts gratefully received.
Best regards,
Russell.
It seems that the papers over here are full of doom and gloom regarding the financial prospects for the next few years.
Clearly we are strongly tied to the yanks and if the whole sub-prime fiasco unsettles them then the British economy will also start to wobble.
My question is this, is the Aussie economy linked more closely to the American or the Asian markets? or is it indeed a self sustaining single entity?
My reasons for asking are purely biased, we currently live just outside Manchester where the housing market is looking decidely iffy and are looking to move to the Gold Coast where prices are going through the roof. I am hoping against hope that if there is going to be a global recession that it will peg back prices in Oz a bit and help us bridge the gap?!
Any thoughts gratefully received.
Best regards,
Russell.
Jan 29th 2008, 7:11 am
#2
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: Economic clairvoyants?
Dear All,
It seems that the papers over here are full of doom and gloom regarding the financial prospects for the next few years.
Clearly we are strongly tied to the yanks and if the whole sub-prime fiasco unsettles them then the British economy will also start to wobble.
My question is this, is the Aussie economy linked more closely to the American or the Asian markets? or is it indeed a self sustaining single entity?
My reasons for asking are purely biased, we currently live just outside Manchester where the housing market is looking decidely iffy and are looking to move to the Gold Coast where prices are going through the roof. I am hoping against hope that if there is going to be a global recession that it will peg back prices in Oz a bit and help us bridge the gap?!
Any thoughts gratefully received.
Best regards,
Russell.
It seems that the papers over here are full of doom and gloom regarding the financial prospects for the next few years.
Clearly we are strongly tied to the yanks and if the whole sub-prime fiasco unsettles them then the British economy will also start to wobble.
My question is this, is the Aussie economy linked more closely to the American or the Asian markets? or is it indeed a self sustaining single entity?
My reasons for asking are purely biased, we currently live just outside Manchester where the housing market is looking decidely iffy and are looking to move to the Gold Coast where prices are going through the roof. I am hoping against hope that if there is going to be a global recession that it will peg back prices in Oz a bit and help us bridge the gap?!
Any thoughts gratefully received.
Best regards,
Russell.
Jan 29th 2008, 8:10 pm
#3
Frequent Flyer Member
Joined: Jun 2007
Location: Melbourne
Posts: 10,994
Re: Economic clairvoyants?
http://www.news.com.au/business/stor...18-462,00.html
Access Economics also remains confident that China's strength should carry Australia's economic growth, underwriting a notable lift in coal and iron ore prices.
But the consultancy group has warned in its latest assessment this month that the risk of China "turning from a benefactor to basket case is rising".
"If and when China finally stumbles - perhaps in 2009 rather than 2008, with the Beijing Olympics safely out of the way - Australia could see what has been a long-delayed downturn," it says.
"And it has been so long since we've had one that the next downturn will hurt."
Access Economics also remains confident that China's strength should carry Australia's economic growth, underwriting a notable lift in coal and iron ore prices.
But the consultancy group has warned in its latest assessment this month that the risk of China "turning from a benefactor to basket case is rising".
"If and when China finally stumbles - perhaps in 2009 rather than 2008, with the Beijing Olympics safely out of the way - Australia could see what has been a long-delayed downturn," it says.
"And it has been so long since we've had one that the next downturn will hurt."
