Posted by: Dale Ellerman
I attended an interesting legal industry lunch last week that had speakers addressing Australia's economic prospects in a world of uncertainty. The take away message for me was that there is an elevated risk of another shock from Europe but that it is unlikely to be as bad as the GFC. The mining boom will fall away as Chinese development moves away from public expenditure on infrastructure to consumer driven spending (not as reliant on coal/steel which is far and away our most valuable export). When the dollar falls the expectation is that our manufacturing, education, tourism and agriculture will pick up to fill the gap.
Overall, a few 'bumps' but the future has glimmers of hope.
Overall, a few 'bumps' but the future has glimmers of hope.
