Deal with China
Have not heard the details of this deal which this current government has finally achieved after negotiations which have apparently been going on for ten years.
Brilliant results from the little I have heard and it will be of great benefits to our farmers, the wine industry etc. and Australia!
Well done to all who were involved. I understand a great deal of hard work was done behind the scene to achieve the outcome which we will hear about today.
I do hope the Opposition will put aside their hatred of Abbott and give credit where it is due.
Davey
Of course be a racist BUT not on here! Take your disgusting racist view and keep them at home with you.
You say I AM from foreign stock???? You were born in Scotland... how much more foreign can you get. I was born here as was my parents, my grand parents, my great grandparents and a few more generations on ONE side of the family were born in Australia.
HAVING SAID THAT, I must point out that WE ARE ALL IMPORTED... duh!
BUT of course being a recent import and a racist to boot, you would prefer to think that nobody lived here for thousands of years before those from the UK and other nations arrived....
RACISM is DISPICABLE, PATHETIC, IDIOTIC, DUMB, BIGOTED, RIGID, INSULAR and DISGUSTING..... those that profess to being RACISTS are small minded people, entrenched in and saturated in FEAR, a lack of confidence and some have even suggested that they have a low IQ.... I wouldn't of course!
CRITICAL ENOUGH FOR YOU..... ALL your other comments are welcome, RACISM is NOT!
HERE is a LINK to a video of what some think of these fearful pathetic people.
Mussitate, on this occasion, I roughly agree with you, particularly as regards foreign Companies owning Rural Land & Mining Leases. But you do not help by constantly inventing so called facts. You stated:-
"if Australia's dollar goes even further down, our Australian imports will cost more anyway and with the Chinese Yuan getting stronger and stronger, this I feel would act to nullify the effects of Australian growers competing with overseas products."
First of all, The further the Australian dollar fall, the dearer the imports wil be, BUT our growers' products will stay the same. Also you refer to the stronger & stronger Yuan or RMB. This it totally untrue. Not only is the Yuen not market based, but Chinese Government controlled, as well as, in spite of the fall in the $AU, at it's equal lowest level (5.31) in the last 6 years. Before the RMB becomes an International currency it will have to be floated, & that result of over 7 Yuan= $1AU, will largely destroy the Chinese market advantage. That would increase the cost of Chinese imports by 40%
innes
You haven't been reading much about MARKET CONTROL have you... not being awful (at all) but the US stock exchange is totally controlled with buys and sells orchestrated to keep the markets climbing. There is a wealth of articles on this subject on the internet and most of them from very credible sources.
DITTO for currencies, this is fraught with manipulation so rampant it is nearing straight out fraud. Even countries work together to manipulate in this area..... one such arrangement has ended badly for one of the countries because it has been officially declared as being back into a RECESSION. This was, of course, in relation to Japan and its bank (BOJ) which worked to restore some credibility for the US$ by turning ON QE or liquidity taps at exactly the same time the USA declared that it was turning OFF some of its QE liquidity taps.
Strange why another sovereignty would do that for another... possibly due to Japan holding a lot of US BONDS maybe?
My point is that if there is a problem with controlling a currency, then all you have to do is look to the USA which has iron fisted control. The USA even ILLEGALLY invades or supports others to illegally invade and murder hundreds of thousands of innocent people (called....collateral damage) in order to ensure that OIL is sold in US$.
Why has gold continued to be dragged down, every time it starts it skyward march.... CONTROL. The USA wants it low because it is protecting the US$ and China doesn't mind at all because it is BUYING tons of it. Manipulation by countries working together AND the fact that paper gold has been sold and resold when there is NO REAL GOLD sufficient to pay out the paper gold holders. This is how it goes... I have 1 tonne of gold but issue sale certificates for 20 tonnes, no one is any the wiser UNTIL the sh*te hits the fan. Moral of the story, IF you want to buy gold get the physical stuff and get it from the safest and best place in the world..... the PERTH MINT in Western Australia (state owned.... well it was last time I looked anyway).
Re WORLD currencies and the Chinese Yuan Renminbi..... the idea that the Yuan will need to be 'floated' is a strange statement to me, as the following are CLEARING houses that trade in Chinese Yuan Renminbi - Germany, UK, France, Canada, Qatar, Taiwan, Luxembourg, South Korea, Hong Kong and Singaport. PLUS twenty eight (28) countries that have BILATERAL SWAP AGREEMENTS (besides those mentioned in clearing houses, we can add Australia, New Zealand, Russia, EU, United Arab Emirates, Switzerland... etc, etc.).
Additionally, China and other BRICS nations (Brazil, Russia, India, China, South Africa and more are being included or joining), have CREATED alternatives to the WORLD BANK and the IMF. Although these alternatives are smaller, they are in much demand BECAUSE they do NOT require countries to sacrifice their democracy or their economic models (ie. WORLD BANK and IMF require countries to convert to USA economic style 'corporatocracy' which ultimately benefits the USA), as a condition of gaining access to funds.
China has always wanted a WORLD currency that is NOT one country's currency but many countries currencies with (partial) gold as an added security (for example). However, the USA would not tolerate this ...... for obvious valid reasons, from THEIR point of view.... as it would bring the USA economy to its knees, as by holding the World Currency, they can sit back and simply make money off the rest of the worlds finances AND transfer ALL its mismanagement, misconduct and malfeasance back to the rest of the world.
Now on to the aspect of Chinese imports.... MOSTLY only resources which it is securing from all around the world now including the vast reserves in Russia and has tapped into Africa and offering those countries FAIR deals with INFRASTRUCTURE exchanges, etc... rather than merely funding dictators to fill their pockets and employ armies to keep the population in line whilst starving and poor.
Australia may in the next 15-18 months see our Iron Ore and that includes FORTESCUE (Forrest's lot) hit really hard times.... especially all the low grade iron ore mines.
In regard to MARKETS, if there is a world downturn, China has a HUGE domestic market and will simply turn inwards.... Not to mention the NEW emerging and rising markets from the BRICS + countries, in which to transact in or with.
Back to your point... I am not sure what it is actually....which is why I have tried to cover all FINANCIAL MARKETS (shares, currency, gold, etc). Anyway, my point is China is NOT on its own and is willing to share (at the moment anyway... power has a way of corrupting whole nations).
It is Australia that is heading for a downturn AND the dill that is running (down) this country, has NOT planned or even undertaken a study of how his policies (corporate wish list) will impact on Australia's economy, especially as he has added BILLIONS to our GOVT DEFICIT which was called a DEBT when Labor was in but somehow is now a DEFICIT... strange how Murdoch and his other (foreign) corporate media mates have altered the terminology....don't you think?
Sorry about the verbosity of my response.. it is just that it is such a huge and complicated subject, I didn't want to respond without thought OR flippantly!
I also know I shouldn't have brought politics into it BUT I am worried about where Australia is headed and how many Australians will suffer if the next stage of the GFC is NOT managed properly.
I have right to be a racist if I wish to be.....that's a fact.
You or anyone else will not tell me how to act ot think.
You Mussy have big chip on your shoulder because you are from some foreign stock imported from god knows where.
Look at yourself before being critical of others