Dragonomics

Glenn Stevens comments yesterday, issued from an investor’s conference in Hong Kong, provide confirmation of Adam Carr’s growing awareness of excessive pessimism in the Australian Economy. As pointed out by Glenn Stevens a “sense of concern in some parts of the Australian community, and the tendency to focus on the difficulties, rather than the opportunities”.

Of further interest was his comments relating to the much publicised revised Chinese growth figure, as pointed out ”Even at the new growth target of 7.5 per cent, a lower target than in the past five years (all of which were, of course, exceeded) Chinese GDP [gross domestic product] will equal that of the United States, in purchasing power parity terms, in about a decade. It will exceed that of the euro area within the next few years.” More…

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