Australia's economy relying heavily on China - ABC 110515

[Navium]

It is actually very sad how Australia is selling off everything to anywhere in the world. There is nothing of importance anymore which is owned by Australians and it is actually Australia's own fault. No one comes to Australia and takes it away...its the Aussies that sel everything.

They are unable to push their Dollar down (hey...print money..the Japanese did it..it works) and all the politicians do is trying to brainwash the public by telling them how great everything is...

[Amunication]

what the hell is that guy wearing? he looks like where's wally lol

[Dimitri0809]

China doesn't really produce anything new, they can't produce anything new because they don't know how. The economies that are in best shape are the french, USA, Japan, Germany, Italy and UK economy, the Australian economy sucks it's just as fake as the chinese economy and doesn't really produce anything that has proper value.

[ymhktravel]

@Dimitri0809 Let's not talk about whether China produces anything. If "production" means "manufacturing", then I'd say China actually produces a lot of the goods for the world...unless you mean new inventions. If you look at things you ar eusing, almost everything these days are "made in China". But what I really questioned is that you say "france, usa, uk" esp are in best shape. You obviously hv not been reading the news or choose to be an ostrich with head buried in the sands.

[Dimitri0809]

@ymhktravel

Yes but they are countries that produce all the advanced technology that makes their economies wealthier and provide a higher standard of living.

[Microglia1]

@ymhktravel You're such a dumbass. I'm from South Africa and ostriches do not bury their heads in the sand. 

[ymhktravel]

@Microglia1 You are an uneducated uncouth redneck prob. My reply was in response to Dimitri who must be given credit for responding in a most civil manner, unlike you. So wtf has it got to do with you, bitch!?? You are dumber than a dumbass. Responding another time to you is a waste of my time. You are definitely on my "ignore" list because I deem you too stupid to understand a figurative manner of speech.

[Microglia1]

@Microglia1 Ostriches do not bury their heads in the sand. I live on an ostrich farm. That was my point, not referencing your asinine, draconian effort to sound intelligent in response to Dimitri. Copying is a form of economic empowerment-the Russians, Germans, British, all have done the same. China also copied a maglev train system, the like of which have not been copied elsewhere. This is the point of ignorance that Westerners like you cannot understand. あなたはあまりにも愚かです。

[marcey666]

all lies the high australia dollar is having a real impact and is set to crash, also there is inflation that the RBA will not address and will not put the rates up becouse they know this will crash the housing market. Also china is cutting investment in australia the resources bubble is going to pop. Were is our money from the boom?

[gbvb79]

It's incredibly naive to think Aus is insulated against Global Economic Concerns.

If the US and EUR falter, China falters. If China falters Australia's resource 'boom' 'busts'.

Please remember folks busts always follow booms. Consequently people need to prepare accordingly...which they hardly ever do.

Regardless, I think it is very unwise to base an economy around a single trading partners success or failure...that would be like putting all your eggs in one basket wouldn't it?

[AntiDefm]

@gbvb79 LOL! The beauty of naivete is that people don't know when US, EU "falter", China didn't "falter". China still zooms ahead with GDP 9.5%, and brings Australia with it, too. That is exactly why Australia doesn't have the economy recession.

Most Australians are too naive to realize this. They don't show the appreciation. They still bark with US and want to be the American sock puppet to irritate China as much as they could. That is exactly what I call "naivete", LOL!

[gbvb79]

@AntiDefm Well the jury is still out on whether the US and EUR have actually properly faltered yet. Some argue that they printed quite a bit of money to prop up the inevitable crash - which some predict is still on the way. There is also conjecture surrounding the accuracy of Chinese economic figures and quality of their supposed GDP growth. China's big test will be when the US and EUR properly collapse. Only time will tell.

[AntiDefm]

@gbvb79 We've heard that before. Chinese way to calculate GDP is different, bust is coming to China, ... LOL!

As a matter of fact, everyone thought China's 10-year economic growth was coming to the end when Tienanmen demonstration happened in 1989. To make sure that happens, US and the West placed the sanctions aginst China, expected China would dissolved into pieces like what happened to Soviet Union just on year later, ... And ... that was more than 20 years ago, now is 2011, LOL!

[AntiDefm]

@gbvb79 Of course we certainly jump any any opportunity to play the judge when we see any bad hint happening to China. BUT if anything bad actually happened to us, then we say "jury is still out", LOL!

Let's face it, China is the best capitalist country in this world today. No matter we are willing to admit it or not, China has beat us in our own capitalist game. China is taking Austarlia as a rich-resource third world country in Africa. LOL!

[ozwasp]

All the cashed up bogans will sell their Maloos and go on the dole, when China busts up... The AUD will halve and the govt will build roads to nowhere.