Institutional Investor (March 10)
“China’s red-hot growth inevitably has to cool given that it has already overbuilt and overborrowed. China’s debt load has exploded four-fold since 2007, largely on the back of shadow banking and a real estate boom.” China’s total debt load (estimated at 282% of GDP by McKinsey) now “tops debt loads in the U.S., Germany, Australia and other developed countries. China’s corporate debt amounts to 125 percent of GDP.”
Tags: Australia, Boom, China, Debt load, GDP, Germany, Growth, McKinsey, Overborrowed, Overbuilt, Real estate, Shadow banking, U.S.
Wall Street Journal (November 27)
The free-trade agreements China recently won with South Korea and Australia serve as “a reminder that the rest of the world won’t stand still while Washington and Tokyo dither…. The U.S. and Japan need to transcend their domestic special interests and finish a Pacific trade pact if they want to compete with China for economic influence.”
Tags: Agreements, Australia, China, Compete, Economic influence, Free trade, Japan, South Korea, Special interests, Tokyo, TPP, U.S., Washington
New York Times (July 17)
Australia became the first country to repeal a carbon tax, and “opposition politicians and environmentalists in Australia reacted with dismay…saying that it made Australia the first country to reverse progress on fighting climate change.”
WARC (June 5)
“Digital advertising expenditure is set to grow across Asia in the next five years but most spectacularly in China where it will account for over half of all advertising by 2018,” as it grows from 40% of ad spend in 2013 to 55% in 2018. Other big gains are expected in South Korea (from 35% to 46%), Australia (30% to 43%) and New Zealand (19% to 28%).
Tags: Ad spend, Advertising, Asia, Australia, China, Digital, New Zealand, South Korea
Los Angeles Times (March 28)
“California ought to learn from the experience of Australia, the driest continent on Earth, with a broadly similar economy.” California has been reeling from perpetual water shortages: the result of a flawed water policy. California “uses enough water in an average year to support, in theory, 318 million Californians (and their lawns and dishwashers), more than eight times the actual population of 38 million.”
Tags: Australia, California, Dishwashers, Dry, Economy, Lawns, Policy, Population, Shortages, Water
Wall Street Journal (March 17)
“Unlike most U.N. documents,” the report on human rights abuse in North Korea “demands action.” Much credit is due retired Australian judge Michael Kirby, who chaired the commission that wrote the report. By chronicling widespread abuse with “evidentiary rigor,” they created a report with “striking emotional power.”
Tags: Abuse, Australia, Human rights, Michael Kirby, North Korea, Report, U.N.
Bloomberg (January 22, 2014)
Bloomberg released its annual rankings of the best countries for business in 2013 and these were 1. Hong Kong, 2. Canada, 3. U.S., 4. Singapore, 5. Australia, 6. Germany, 7. United Kingdom, 8. Netherlands, 9. Spain and 10. Sweden. Japan slid from #3 in 2012 to #12, but still finished ahead of South Korea (#13) and China (#28).
Tags: Australia, Business, Canada, China, Germany, Hong Kong, Japan, Netherlands, Ranking, Singapore, South Korea, Spain, Sweden, U.S., UK
Financial Times (December 21, 2013)
The UK is set to adopt “funny money,” abandoning paper currency for polymer. In 2016 the Bank of England “will begin introducing plastic notes that can be wiped clean and are difficult to tear. These are expected to last two-and-a-half times as long as the cotton and linen variety, which can quickly become ragged and soiled.” The UK will be following Australia, where paper currency was eliminated in 1996, resulting in a significant decrease in counterfeiting.
Tags: Australia, Bank of England, Counterfeiting, Currency, Paper, Plastic, UK
The Australian (October 10)
“As Sydney gears up for what could be its hottest October day on record, a landmark study warns that such extremes will be the norm in just 25 years.” The predicted climate departure dates for Australia range “from 2038 in Sydney to 2049 in Adelaide.” West Papua will get hit much earlier (2020) and Anchorage much later (2071), with Tokyo sandwiched in the middle (2041).
Tags: Adelaide, Anchorage, Australia, Climate departure, Extreme temperatures, Sydney, Tokyo, West Papua
Wall Street Journal (August 21)
The senseless killing of an Australian exchange student by 3 Oklahoma teenagers should leave Americans wondering just how to fix “a culture that produces teenagers for whom the prospect of shooting an innocent man in the back on a Friday evening apparently raised not a scintilla of conscience.”
Tags: Australia, Conscience, Culture, Exchange student, Innocent, Killing, Oklahoma, Senseless, Shooting, Teenagers
