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Feature: Queensland bucks the trend
15 December 2009
It’s been a difficult couple of years to be an investment manager in the US and Europe. But, for Queensland Investment Corporation, the story has been much more positive
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Queensland Investment Corporation
While virtually no economy has come through
the turmoil unscathed, businesses in Australia can justifiably sit back with a
sense of satisfaction at the way they have, comparatively speaking, weathered
the storm.
The country’s close links to the Asian
region and the huge demand from the area for Australian produce – many people
within Australia now see their fortunes more closely linked to the region than
the US – has helped the economy to buck the global trend.
China, in particular, has been a driving
force behind the strength of the Australian economy importing a large amount of
goods and establishing strong business links. China accounts for 17.1% of
Australia’s merchandise exports, up from 5.7% in 2000-01. The US, meanwhile,
has fallen to 5% in 2008-09, down from 9.7% in 2000-01.
Another major factor behind the success has
been the growth of the asset management industry within the...
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