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And not all, but a good percentage of China's economy is dependent on the USA.
Yep. Boiling it down, the chain works this way. China needs raw materials to power its factories to sell product to the US (and the EU). China is the factory shop of the world, the US and EU are the customers, and Australia is the electric utility powering the factories. I'd say Australia is in a precarious position. If the USA/EU aren't buying, China isn't making, Australia ain't mining and I've just read that all the states that don't have mining as their main or a big industry are in recession or falling into recession
Any country that's even halfway plugged into the modern world (which basically means everywhere these days but North Korea) is going to be negatively and heavily impacted by the complete financial collapse of either the US, EU, or China. There are no safe havens in such a scenario. Even remote African countries are now seeing heavy investment from China, and that could all disappear in an economic meltdown.
The idea, if this was a viable plan, was to convert all my US dollars savings into Aussie ones. But sounds like I'd take a haircut in the process if things there are wholly dependent on things over here and the Aussie $ is strong against the weak American $. People here are really suffering. Jimmied inflation figures report about 2% which we know is garbage. The real figure is around 6-7% and growing worse by the day.
Australia is expensive, especially after converting your dollars.
As it stands you can't stay there permanently anyways unless you get some kind of business or investment visa.
People here are suffering, but it's what happens when you have an executive branch that is trying to channel Hugo Chavez and is destroying the economy.
Which countries would not be affected if the USA, European Union or China were to collapse? Are there any countries that would be in the safe zone?
I would personally go with some place like the Upper Volta - well at least the regular citizenry, the ruling class will probably get less hand outs from the Chinese.
I'd go for Cambodia. US$ s are valid in the country and it is cheap to live. There is also quite an international ex pat community already established.
Australia is very expensive but easy to save money if the right conditions prevail. I cannot see it lasting long term though ...and expect the boom bust scenario to return when China slows down more.
In fact Australia was a far better place pre boom days in my opinion so a decline in prices wouldn't be unwelcome although would like the Aussie dollar to remain high....
I'd go for Cambodia. US$ s are valid in the country and it is cheap to live. There is also quite an international ex pat community already established.
Australia is very expensive but easy to save money if the right conditions prevail. I cannot see it lasting long term though ...and expect the boom bust scenario to return when China slows down more.
In fact Australia was a far better place pre boom days in my opinion so a decline in prices wouldn't be unwelcome although would like the Aussie dollar to remain high....
I figure Australia has about 10 years left at most before changes arrive. The iron ore and similar businesses inject a lot of cash into the economy, which ends up benefiting everyone. It's the easiest thing around, stick an enormous shovel into the ground, dump it in a rail car and send it for further processing or shipment to China or elsewhere(I know that is simplifying it some, but that's about what it comes down to).
The problem is Mongolia has been found to have sizable reserves of ore and other minerals. Rio Tinto has already been in there for a while and other companies are making moves. Ulan Batar is a happening place now with lots of mining executives moving there. The road network into China is being rapidly improved on both sides of the border as well as upgrades to the railroads. I figure when those mines go full throttle and they start sending ore into China, there will not be the need as much to source it all of the way from China.
One driver training company I was keeping my eye on for work in the future, does a lot with the mining industry in Australia. There is so much business in Mongolia, they are opening a satellite office in Ulan Batar to do driver training for the industry there. I can only imagine other companies and talent in the Australian mining business doing the same.
Australia has had mining busts in the past which harmed the economy significantly, so I would not take it for granted it will always stay the same.
I figure Australia has about 10 years left at most before changes arrive. The iron ore and similar businesses inject a lot of cash into the economy, which ends up benefiting everyone. It's the easiest thing around, stick an enormous shovel into the ground, dump it in a rail car and send it for further processing or shipment to China or elsewhere(I know that is simplifying it some, but that's about what it comes down to).
The problem is Mongolia has been found to have sizable reserves of ore and other minerals. Rio Tinto has already been in there for a while and other companies are making moves. Ulan Batar is a happening place now with lots of mining executives moving there. The road network into China is being rapidly improved on both sides of the border as well as upgrades to the railroads. I figure when those mines go full throttle and they start sending ore into China, there will not be the need as much to source it all of the way from China.
One driver training company I was keeping my eye on for work in the future, does a lot with the mining industry in Australia. There is so much business in Mongolia, they are opening a satellite office in Ulan Batar to do driver training for the industry there. I can only imagine other companies and talent in the Australian mining business doing the same.
Australia has had mining busts in the past which harmed the economy significantly, so I would not take it for granted it will always stay the same.
True but I think now Australia has a bifurcated economy. Whilst the economy boom has helped many some of the Eastern Seaboard economies have a minimum baseline so like New York, Hong Kong and London which have been affected by the global financial crisis they have managed to stay above their baseline, whereas other areas have really just ridden the boom with no other infrastructure and have fallen back to their natural baseline. Places like Perth, the Pilbara and Queensland will experience a far greater decline should China fail than say Sydney or Melbourne.
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