Hard to argue with that assessment.
- Worried because it’s not clear problems can be solved anytime soon
- Australia govt debt position very good, govt debt of trading partners not a problem
- In part of world that will be least affected by government debt problems
- Welcomes any moderation in Chinese growth
- Australian economy can weather any slowdown in China
- Managing mining boom a challenge, especially for inflation
EUR/USD slips under 1.2200, presently at 1.2193.
