Erik Reuter wrote: > On Tue, Sep 30, 2003 at 10:33:48PM +1000, Ray Ludenia wrote: >> Australia has tied its economy to US, > > In what way? Is the Australian currency pegged to the US dollar? I've > noticed that the Australian stock market is one of the least correlated > with the US stock market. Europe and the Far-East have much higher > correlation with the US stock market.
The US is Australia's largest source of imports and the second largest export market. Over a third of overseas direct investment in Aus is by the US, and surprisingly, Aus is the eighth largest foreign owner of US assets. There is more supporting info at: http://www.dfat.gov.au/publications/aus_us_fta_mon/Chapter%202.pdf http://www.petra.ac.id/asc/int_relations/australia_america/usa/economic.html The A$ is certaily not pegged to the US$. When I visited the States in 2001, we got US$0.52 for our dollar, yet it is now "worth" US$68. No wonder we found it expensive! Regards, Ray. _______________________________________________ http://www.mccmedia.com/mailman/listinfo/brin-l
