Chillin' out till it needs to be funded
It’s like you have forgotten your own language, English and are struggling to find words, it’s that big a change from the last decade..Is it that Australia is claiming an early summer of growth and profits, just because it is hotter than its larger customers, i.e. China and Japan right now?
Australia shows up increasingly in global media pushing its relations with China, Korea and Japan and with news of we got the recovery first, try to fight the appreciation headwind as the A$ gets power arbitrage ahead of Singapore.
Singapore, in the mean time is going thru volatile times contracting and growing by more than 5% in each of the last 4 quarters..Australia is unlikely to follow the same path but we find it untenable that they can be counted as stable in 2010.
The micro economy of an Australia or Taiwan or Hongkong is susceptible to the same curse of single deal dependent growth like an oil corporation and the depth iand possiblity of diversification in the economy is quite lost in the run.
However a resource rich economy like Russia and Brazil is increasingly showing itself incapable of lifting itself up during a downturn and both commodities and fixed income markets continue the depressing synopsis of the last three months of 2009.