A copper price collapse of more than 60 percent, zinc cut by up to a half and oil down to $70 a barrel. That’s the fate facing world commodity markets should China’s growth dip to 3 percent in the next three years -- a scenario economists at Barclays Plc are now examining.
Australian Treasurer Wayne Swan said he supports Federal Reserve Chairman Ben S. Bernanke’s quantitative easing and Japanese Prime Minister Shinzo Abe’s reflation policy, in contrast to Europe’s hazardous pursuit of austerity as the world economy struggles to shake off the global financial crisis.
From skyrocketing rents in remote mining towns to the decline of the auto industry, Australia is grappling with the downside of world-beating economic growth that has driven the nation’s currency to record highs.
Julia Gillard, Australia’s first female prime minister, is contending with national media condescension that replicates sensibilities in the nation’s corporations, according to three leading women executives.
Australian government bonds are poised to extend the best rally among top-rated nations as local policy makers cut interest rates in response to global monetary easing, according to Pacific Investment Management Co.
A furnished two-bedroom apartment in Port Hedland, the world’s biggest bulk export terminal, on Australia’s cyclone-battered north-western coast rents for almost the price of a three-bedroom penthouse in Manhattan.