Posts Tagged ‘aud’
The 2008 financial crisis really shook the world, most especially the wealthy. Economic debris is still on the mending process and some countries had just started to pick themselves up and their neighbors too. The U.S. economy has just stirred to stand back up from its huge fall since the Great Depression. Moreover, Greece had just received its rescue from its euro brothers while others’ turn is still yet to come.
But there are those who wasn’t standing on the epicenter, although shaken a bit, but utterly stable compared to others. Standing intact and able to withstood its impact, one of those who were able to maintain the capriccio of its citizen while others loom to survive was Australia.
Australia’s known for its abundant natural resources – more specifically it’s metal resources. Mining had started to boom around the early 19th century and since then fulfilled the financial needs of the barren centered country. Gold, iron ore, nickel, bauxite or aluminum, copper, and silver are just some of the widely mined resources that pumps money into economic veins of Australia.
It was the reason why Aussie is one of the commodity currencies. Its exports, most especially metals, greatly affects how its economy would perform. China’s been one of its major trading partner and the Sino – Australian relations is still growing stronger over the years. The aggregating demand of China to iron ores makes its pact with the currency commodity sturdier than ever.
However, many are speculating about its imminent halt in the near future. Everything is bound to end as the old always says, and sooner or later those fields will be exhausted. What would happen if it does?
Some are claiming that it was already over but experts says that the time has yet to come. If In case their resources were indeed exhausted, how do you think that their economy would fare?
Australia, although highly dependent on their exports, have other things to offer other than metals. Agricultural products, like wheat and wool, are also being exported. Not only that, energy sources such as liquified natural gas and coal are also being sold to other countries worldwide. Eco tourism would also be possible due to their vast land and sea mass. Although dessert terrains is abundant near the center, its outskirt really has something to offer.