31 Jan, 2017
According to the traditional Chinese calendar, on Saturday 28 January the Year of the Monkey gave way to the Year of the Rooster. Last year started badly and ended well. We think that this year will do the opposite.
A slowdown in the Chinese economy remains, as ever, the single biggest risk for the Australian economy. We have often stated that Chinese GDP growth is slowing over the long term because the structure of the Chinese economy is changing – services now outweigh manufacturing industry as a percentage of GDP, state sponsored capex is declining, and labour supply is moving from surplus to shortage… [read more]
