Being in debt by a trillion dollars-not bad

1st July A trillion dollars in debt, but no 'banana republic' On May 14th 1986, then Treasurer Paul Keating delivered a speech warning that Australia was in risk of becoming what he coined, a"banana Republic." This speech was a reaction to the biggest Current Account Deficit Recorded(CAD) and indeed, low commodity prices, high government debts … Continue reading Being in debt by a trillion dollars-not bad

Higher Chinese Trade Balance Pushes AUD USD Exchange Rate to 8-Month High

The Australian Dollar has risen significantly against the US Dollar today, posting a 0.7% rise thanks to strong trading data from China. This highly supportive data has put the AUD USD exchange rate at 0.7730, the best rate since November 2016. Why is this so? China has recently posted a rise in the June trade surplus along … Continue reading Higher Chinese Trade Balance Pushes AUD USD Exchange Rate to 8-Month High

Hug a farmer, they’ve saved our bacon

Agricultural growth surged by an extraordinary 27.6 per cent in 2016, the latest Australian Bureau of Statistics national accounts have revealed, following a record harvest in every state. While agriculture enjoyed leaps in growth, the traditional driver of the Australian economy ­ mining ­ grew by just 4.6 per cent. Retail struggled, and manufacturing and … Continue reading Hug a farmer, they’ve saved our bacon

Donald Trump signs executive order withdrawing US from Trans-Pacific Partnership

US President Donald Trump has signed executive orders withdrawing America from the Trans­-Pacific Partnership (TPP) trade deal and stopping the federal government from hiring any more workers. Why is this so? Mr Trump, who has previously argued the agreement would harm the US economy, said the order was a "great thing for the American worker". Mr … Continue reading Donald Trump signs executive order withdrawing US from Trans-Pacific Partnership

Tariff cuts spruiked as free trade at crossroads

2017-january-2nd-tariff-cuts-spruiked-as-free-trade-at-crossroads Despite the backlash against globalisation and trade and a greater move towards protectionism in movements such as Brexit, the election of Donald Trump and America withdrawing from the TPP, federal Trade Minister, Steven Ciobo is still confident that Australians still support the pursuit of free-trade agreements. "Australia is an exporting nation, It is a fundamental … Continue reading Tariff cuts spruiked as free trade at crossroads