The Australian dollar’s plunge to a seven-year low
In an article written by Candice Zachariahs and published on Bloomberg.com, Klaus Baader, Head of Research for Asia and Chief Economist for Asia Pacific at Societe Generale, commens the current economic situation in Australia.
“In many ways Australia has proven to be unbelievably lucky once again. The Aussie was high when the country needed to import capital goods to build new mines and now it’s fallen “very significantly, which helps to contain production costs and it’s contributed to making Australia very competitive even at lower prices.”
Klaus Baader, Head of Research for Asia and Chief Economist for Asia Pacific at Societe Generale
To read the article, please visit: www.bloomberg.com