9th October 08

The Age

Our economic saviour lies in the East

Kenneth Davidson

China is well placed to ride out the downturn and take Australia along.To paraphrase Australia's World War II prime minister John Curtin, commenting in 1941 on the imminent defeat of the British in Singapore: the Rudd Government should, without any inhibitions of any kind, make it quite clear that Australia looks to China to ensure we survive the global financial crisis, free from any pangs as to our traditional links or kinship with the United States.

The Australian

China to grow but cut prices

CHINA has a bottom line of demand that will sustain Australia's mining - but at a more modest level, says one of Australia's leading deal-makers with Chinese corporations. Shanghai-based Paul Glasson, who has been involved in many recent Chinese investments in Australia, and is KPMG's strategic alliance partner in China, warned yesterday: "Without China, it's all over." Western Australia's peak business group has defied the global doom and gloom by predicting continued strong economic growth in the boom state on the back of surging exports.

Asia Times Online

China's interest targeted on harmony
By Leanne Wang

HONG KONG - The Chinese government, keen to promote domestic growth as exports to key markets are hit by the global financial crisis, is expected soon to follow the Hong Kong Monetary Authority and Australia in slashing interest rates. While other countries are cutting rates particularly to improve liquidity in their financial systems as concerns about the global financial sector reduced banks' willingness to lend to each other, China is concerned that it maintains growth to avoid social instability.