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Austrlia - Balance of Payments and the pressure on the dollar
Title: Austrlia - Balance of Payments and the pressure on the dollar
Category: Business & Economy / Global Economy
Details: Words: 922 | Pages: 3.9 (approximately 235 words/page)
Austrlia - Balance of Payments and the pressure on the dollar
Introduction
In 1995, The Economist ran an article comparing the current account deficit in Australia at the time to that of Mexico just before the Mexican Peso's devaluation in 1994. At the time, the current account deficit in Australia was 5% of gross domestic product (GDP). Over the next five years, the comparison proved itself to be accurate as the Australian dollar lost over 40% of its value. Currently, there are signs that an even larger problem is looming …showed first 75 words of 922 total…
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…showed last 75 words of 922 total…hand, has repeatedly sounded the alarm and has even raised interest rates twice in an attempt to throw a bucket of cold water on the over exuberance currently threatening the Australian economy.
References:
Reserve Bank of Australia
http://www.rba.gov.au/Education/exchange_rate.html
The Economist
http://www.economist.com/displaystory.cfm?story_id=2517397
http://www.economist.com/displaystory.cfm?story_id=2524281
China Economic Net
http://en.ce.cn/World/Asia-Pacific/t20040602_981505.shtml
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