Here is an article from Ross Gittins about the current account deficit.
http://www.smh.com.au/business/no-worries-mate-living-with-a-deficit-20091023-hdb3.html
He basically says that we're not in the same boat as the US because our savings rate is much higher than the US.
So our foreign borrowing dependency looks sustainable.
An interest read.
Cheers,
http://www.smh.com.au/business/no-worries-mate-living-with-a-deficit-20091023-hdb3.html
He basically says that we're not in the same boat as the US because our savings rate is much higher than the US.
So our foreign borrowing dependency looks sustainable.
An interest read.
Cheers,