Martin Wolf is the worlds best financial journalist. He is prescient, easy to read and shines a light on market or conventional wisdom and orthodoxy when required. In last nights article in the FT he is looking at Chinese growth. There are concerns over Chinese growth b ut we don't buy them. We think that China has a great balance of the USA and the USSR. That is free markets and a planned economy. We think this will underpin growth here, now and in the future and while there are substantial challenges for the future they are some years off.
The subrtext of the Wolf article is that it agrees with the underlying premise of the RBA. That is that the growth engince is still strong and has some years and way to go. It reinforces the long term strength of the AUD/USD exchange and cross rates, underpins employment and for the naysayers will underpin the property market via this linkage.
http://www.ft.com/cms/s/0/a1df57c0-c5b5-11df-ab48-00144feab49a.html?ftcamp=rss&ftcamp=crm/email/2010922/nbe/MartinWolf/product
Apologies if a subscription is needed - but its worth it.
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