We re going to see more of this for at least another year. A...

We re going to see more of this for at least another year. A swing of wealth from the West to the East (China mainly)
Only economies with a good manufacturing base or exports will survive. Its going to take many years for China's standard of living to match the West for the majority of the population.(Only then the cycle will change where labour is cheapest).ie Japan grew to a point where quality was outstripped by price.
China is hungry and wants what we have and with 1.3 billion people and only a small percentage so far have a better living standard leaves hundreds of millions wanting a better life.
Australia is in a good position, we have the resources
The only negative for Australia is that we get caught up in the commodity fluctuations including oil. So if oil maintains above $70 Far is safe for now.

Sorry about my dribble, just trying to put a bit of perspective on things.

Chass