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Sunday, July 26, 2009

Is China about to sneeze?


If this is true (and it has a certain ring about it - after all, what usually happens to rapidly expanding sharemarkets and economies?) Australia's recession may be still to come.

If China ran into a big slowdown, possible ramifications for Australia might include:

* Australia's mining sector to hit a brick wall, and technical recession to occur because of declining exports.

* Major unemployment in Western Australia and other areas highly dependent on mining.

* China's major trading partners in Asia (such as Japan and South Korea) also to go into recession, exacerbating Australia's trading position.

* Kevin Rudd to look like a dick for continually saying while in opposition "What is the Government doing to mitigate against an end to the mining boom."

* Kevin Rudd having no money with which to get us out of hock or pay for climate change tomfoolery.

* China's superpower status to be put on hold for a while, and India to emerge as the star second world economy.

Also on the bright side, a slow down could lead to major dissatisfaction and ultimately lead to the democratisation of China and de-Ruddification of Australia.

2 comments:

Boy on a bike said...

And I will be able to afford a house, as they will cost 15 cents after the housing bubble bursts.

daddy 'china skeptic' dave said...

the China bubble will pop, it's going to be messy, and Australia is going to be soooooo screwed.
the one bright lining to these very dark clouds is that Rudd and Swan will look like utter fools and be discredited for eternity.
I've been thinking about blogging about this myself, so you've motivated me to pull my finger out.