18December2017

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GLOBAL ECONOMIC WEEKLY - Feb. 6, 2017

So far, Trump and/or his senior advisers have threatened military intervention against Iran (for test-firing ballistic

missiles), China (if it continues to expand its chain of artificial islands in the South China Sea) and Mexico (if the

government doesn’t do more to eliminate the “bad hombres” who control the drug trade). Trump himself has also

insulted the Australian and Japanese PMs and has accused the leader of the Senate Democrats of faking tears over the

botched implementation of his Executive Order imposing a temporary ban on immigration from seven “majority

Muslim” countries – which has now been ruled illegal by both a Federal (‘so-called’) judge and an Appeals Court. Then,

on Friday, Trump decided to impose new sanctions on Iran – which will further drive a wedge between the US and

Europe – and to review ways in which the controversial Dodd-Frank Act can be relaxed, particularly its ban on so-called

prop trading by Federally-insured institutions. (as part of that, he has also asked for a review of the so-called ‘fiduciary

rule’, which requires that brokers put the interests of their clients ahead of their own – a particular beef of Goldman

Sachs, whose ex-CEO Gary Cohn, is now The Donald’s chief economic adviser.)

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RECORD TRADE RESULTS FOR AUSTRALIA

The value of Australia’s exports reached $32.6 billion in December, the highest level ever in our history, according to figures released today by the Australian Bureau of Statistics.

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NEW RECORD FOR INTERNATIONAL EDUCATION EXPORTS

Australia’s education exports reached a record $21.8 billion in 2016 – up 17 per cent on 2015.

Australian Bureau of Statistics figures released today confirm international education is among the key contributors to Australia’s economy with enrolments passing 700,000 for the first time during 2016.

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GLOBAL ECONOMIC WEEKLY - January 30, 2017

As far as the markets have been concerned over the last two weeks, there is only one thing that matters – Trump.

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Global Economic Weekly - Jan 16, 2017

As one of the few people on this side of the Atlantic who was not utterly devastated by Trump’s November 8 victory, I have to confess to a bit of buyer’s remorse. Partly, it is foreign policy – particularly on the Middle East. But it is at least as much because – far from ‘draining the swamp’, as he used to put it – Trump has been bringing in the same kind of golf club buddies and military types that Romney or Jeb Bush would have been at home with. That may be a comfort to many – in London as well as DC. But it is a kick in the teeth for those who actually voted for him. Plus, we now have the not entirely implausible prospect that he is some sort of ‘Manchurian candidate’ – though it is unclear (to me, at least) what leverage the Kremlin could have over him now that the worst allegations are in the public domain. Still, it is all a bit dispiriting – though not so dispiriting that I wish Hillary (or Ted or Jeb or Marco) had won.

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Government Australia Advisory Board

Simon Crean MP

John Brumby 

Kristina Keneally

Mark Vaile

Nick Greiner

Alexander Downer

Peter Charlton

Trevor Rowe

Warwick Smith

 

Bob Carr