America insists on treating China as an economic threat, but the reality is that China’s economic advancement has benefited us all. Instead, the stagnation of wages and manufacturing job losses experienced by Trump supporters in the US largely reflects the impact of technological change. For the best part of forty years, from the late 1970s Continue reading »
Economy
In a recent speech, the Federal Treasurer hastily bundled together three things that he felt superannuation funds ought to invest in: renewable energy, defence and housing. It was a classic ‘sandwich’ communication: bracket the unpleasant item between two that sound good. I agree that super funds investing in renewable energy makes good investment sense and Continue reading »
Last year was the most widely anticipated recession in history because tight monetary policy, slower government spending and higher oil prices normally spell doom. Yet total economic output (GDP) in both America and Australia kept growing in real (after inflation) terms. So, what can we expect in 2024? Will economists get it right this year Continue reading »
Private school fee rises are as intrinsic to an Australian summer as the screech of cicadas. And instead of relaxing in the holiday heat, I find myself plagued with questions about whether or how to respond to the former. Do these fee rises even matter? Should I be pleased to see that prohibitive fees in Continue reading »
Around 25 years ago, wise commentators said China may, in due course, be able to produce acceptable basic, manufactured white-goods but making motor cars that would sell globally was not conceivable. Far too many complex inputs went into making a modern family sedan compared to a refrigerator. As for landing a rover on the Moon Continue reading »
Severe cramp from work must be reported to the safety regulator - but not work-related suicides. Campaigners want action beyond Ofsted reform
The difference between “Asia-Pacific” and “Indo-Pacific” is not just geographical. These are entirely different notions with entirely different economic and geopolitical implications. In 2023, President Xi Jinping was in the United States for a meeting with President Joe Biden and for the Asia-Pacific Economic Cooperation Leaders’ meeting in San Francisco. It has been quite a Continue reading »
‘Alternative’ medicines and therapies comprise the biggest scam in the country. But if you think that industry is going to be cleaned up … you’re joking. According to the best estimates, Australians spend well over $5 billion a year on alternative medicines and therapies. Globally, the market is valued at $2.4 trillion, equal to the Continue reading »
On the Australian economy, bulls and bears cannot both be right. 2024 will decide the fate of both economies and markets, a hard, soft or no landing. Global Outlook Bulls argue that the worst is over since the back of inflation has been broken. While elevated interest rates will not fall until next year, they Continue reading »
A recent submission to a Senate inquiry by the Centre for Public Integrity claimed that in the decade to 2023 companies making political donations “were 2.49 times more likely to win procurement contracts than non-donors”, and that the value of contracts won by donor companies was on average 4.4 times the value of contracts won Continue reading »