One way they got all that cash was by devaluing their currency.
This and the fact that workers over their are forced to work for peanuts put them at an unfair advantage to the western world. As such you get everything now made in Asia.
I think what Mitchelmore means is thank God I am still going to have a good job through this deal.
The Chinese arn't bad people but the government over there is also partly responsible for the mess we are in as much of the western world no longer has a manufacturing base to fall back on in times like we are in now thanks to the governments policies.
Without our resources what is Australia the once lucky going to have left?
One would expect the Chinese dollar to rise compared to all currencies.
This may be a good thing in the long term as their goods become more expensive forcing the Western world once again to develop their own manufacturing base.
However before the Western World gets to this point living standards will be reduced as there will be a good period where the price of goods from China and Asia increases and we arn't making anything ourselves.
OZL Price at posting:
$6.50 Sentiment: Buy Disclosure: Held
