At last Friday’s AGM, Mike Smith told the ANZ shareholders he was optimistic about the Australian economy … due to its proximity to fast-growing Asia.
In China, the economy grew at 9% over the year. And while many commentators talk about the risks to growth in China, I have been there regularly this year and I am confident about the ability of the Chinese government to manage inflationary pressures and managed the shift from export-led growth, to growth based on more internal demand. [Read more…]