emerging iron ore powerhouse, page-162

Buiter is a nice guy but in his opinion at the time that he was teaching at the London School of Economics, Iceland should have joined the euro or at least pegged the krona to such currency. Had Iceland followed his advise, they would be today in as much trouble as Spain.

For sure that the Asian century has arrived, but look to what happened to Japan. They managed to grow at extraordinary hight rates during the 50s, 60s, 70s and 80s, but all that stopped in 1989.

However, what really matters to us is that India is industrializing and relatively fast and that is why they are here. They want captive suppliers of raw materials and Australia seems to be a good place where to find them.