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Australia Unprepared for Asian Century?

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  1. #11

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    Quote Originally Posted by virago:
    I suggest you look at the balance sheets of China vs nearly all western countries. You might find that China is able to weather more economic uncertainty than you realise.

    Sent from my GT-I9300 using GeoClicks Mobile

    That is total rubbish!

    China's balance sheets are totally cooked. National debt is considered low, but it does not include all the debts of various ministries, like the ministry of railways (big big spender).

    The banks keep bordering on insolvency only to have their books cleaned by transferring the loans off the books to asset management companies that don't have money to buy them - so the bank loans them money! The banks earn huge profits because the state sets the deposit and leaning rates with usually a 3 point spread…
    Instant profits,since its the same at all banks!

    The foreign reserve are worthless in China because you can't do anything with them in China - they are a symbol of weakness not strength. By manipulating its currency and maintaining capital controls it amasses trillions in reserves, but it can only invest those abroad, where they earn almost nothing. Each dollar of foreign reserves has an equivalent amount of domestic debt - because the Chinese government prints money to buy the foreign exchange from exporters, and then issues domestic bonds to clean up the liquidity - which are bought by domestic banks. The whole country is a pyramid scheme waiting to blow - i could go on and on, but I won't bore you to death…..

  2. #12

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    Quote Originally Posted by jw1701:
    i think the real point is that Australia is part of Asia whether you like it or not.

    They can either approach a rising asia as an opportunity and structure the economy and culture towards that or stick their heads in the sand and cling to 'white' ideals even as the demographics become more and more multi-cultural.

    really a piece out of time I think that might have been more relevant in 1980 than now.
    Last time I looked Asia and Australia were separate continents…..
    dear giant likes this.

  3. #13

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    Australia is not part of Asia and most ordinary Australians do not particularly want to be. I would also argue that Asians are probably equally perplexed by the idea.

    Australia simply needs Asia to buy its goods and services in order to fund its way of life. It is a matter of economic necessity. Lets call it what it is...

    dear giant likes this.

  4. #14

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    I think Nassaugirl has it about right. You don't need to become culturally different just to trade - just look at the USA and China - they are highly mutually dependent without either side changing one bit. The whole article is a furfy.

    dear giant likes this.

  5. #15

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    This sounds like a repeat of Paul Keating back in the early 90s.

    The article reads like it was written by an attention seeking rabble rouser.


  6. #16

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    Quote Originally Posted by nassaugirl:
    Australia is not part of Asia and most ordinary Australians do not particularly want to be. I would also argue that Asians are probably equally perplexed by the idea.

    Australia simply needs Asia to buy its goods and services in order to fund its way of life. It is a matter of economic necessity. Lets call it what it is...
    Never heard of Australiasia?

    Apart from Vegemite and dodgy Cadbury's and Kylie Minogue what is there that Australia exports exactly?

  7. #17

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    Quote Originally Posted by jimbo:
    Never heard of Australiasia?

    Apart from Vegemite and dodgy Cadbury's and Kylie Minogue what is there that Australia exports exactly?


    Source: Wikipedia
    Last edited by drumbrake; 20-11-2012 at 01:06 PM.

  8. #18

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    Quote Originally Posted by nassaugirl:
    Australia is not part of Asia and most ordinary Australians do not particularly want to be. I would also argue that Asians are probably equally perplexed by the idea.

    Australia simply needs Asia to buy its goods and services in order to fund its way of life. It is a matter of economic necessity. Lets call it what it is...
    finally someone gets it <facepalm>

    yes indeed australia needs to sell goods and services and perhaps it would help if we could speak asian languages and have an understanding of the culture....

  9. #19

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    Quote Originally Posted by packy_crusher:
    Last time I looked Asia and Australia were separate continents…..
    thanks for that, a very useful contribution suggest you google APEC and ASEAN and enlighten yourself...

  10. #20

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    Quote Originally Posted by jimbo:
    Never heard of Australiasia?

    Apart from Vegemite and dodgy Cadbury's and Kylie Minogue what is there that Australia exports exactly?
    You forgot Ugg boots, Tim Tams and Rolf Harris.