Tip:
Highlight text to annotate it
X
♪ Opening Music ♪
The most important thing from the Australian economy's
or any economy's point of view is external and internal demand.
From an internal demand point of view, immigration is good,
high quality, we've got plenty of internal demand.
Everything generally speaking in Australia's doing well.
Households are doing well. Household prices are right.
Wages are growing at the right rate. Unemployment seems
to be around the right numbers. So our internal demand is good.
Our external demand is good, generally speaking.
Forget about what's going on in Europe, but our biggest
markets are the Asian markets, the new growing markets,
the developing nations, and they all need protein,
steel - iron ore, and coal for power, and we're a
big producer of those things. That's over a long term.
That doesn't necessarily follow the next 12 months
are going to be an easy period, because we've got
a lot of volatility in the world globally, a lot of
uncertainty and a lot of brain damage - people and
things just going up and down very quickly.
But over the long term, I can see good quality,
sustainable growth in Australia, going forward.
♪ Closing Music ♪