all ords down 50 points today, page-30

re: ** all ords down 50 points today *** China will continue to grow at impressive rates, we're looking at upto 10% GDP.

China will drive commodity prices higher this year and for a few years to come, they will keep OIL prices high, they are consuming almost 10% of global OIL production per year...

Think of the average wage in China and the impact that the growth will have on this as they grow and internal consumer spending increases. China will be self sufficient, sure they will be helped somewhat, but i believe they will achieve it.

At current rates, China is Destined to become the biggest economy in the world in the not too distant future.

China will be where the growth opportunities exist...

As for the US... it's going to be this simple, they either collapse on the basis that they can't sustain their credit problems, or they simply grow out of the hole they're in.

As for Australia, i see no REAL reason for the ASX to be getting hit so hard... 2/3 of our economy is made up of consumer spending and as far as i can tell, consumers are still spending their cash, they may not be using as much of their capital to leverage off, but it hasn't slowed significantly yet either. Businesses are still posting generous profits and seem to be able to generate further earnings, so the ASX P/E doesn't seem unreasonable either..