In yesterday’s commentary, I wrote that China was attempting to rebalance its economy, which ultimately means a slowdown in its use of commodities. This has hit the commodities currencies particularly hard, with the Australian Dollar down over 16% and the South African Rand down by over 18%. Commodity producers are going to be the biggest losers from a Chinese rebalancing. And the question then is what happens to their economies.
Take Australia for example. It is intimately ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.