Economic impact …

July 8, 2015

 

When I switch on the news these days it’s all doom and gloom – Greece is up for sale, the Australian dollar is plunging and China’s economy is not what you would call “moving forward”. In years gone by as an ordinary worker toiling away in a factory I would have taken little notice, and cared even less.

However, in today’s world of travel, international trade and multinational employers, things are a little different. Greece doesn’t directly impact my day to day, but China does. Australia sells a lot of stuff to China – mostly in the form of iron-ore (we are happily digging up large chunks of Australia and shipping it north).

China’s economic woes are having a big impact on the price of iron-ore. Now I don’t buy that stuff on a weekly basis, so I could be excused for not caring, but it has a major impact on the economy of Western Australia (primary source of most mining exports), which in turn has a flow-on effect to the rest of Australia.

So when I talk to my customers in WA I’m hardly surprised to hear that they are doing it tough, and that the mining industry has slowed dramatically. Considering that the mining industry drives a great deal of the economy, and an even larger portion of the server-consumption market in Western Australia, it’s hardly surprising that they are concerned.

If my customers are concerned then so should I, so it’s time to jump on a plane and see what can be done to do my bit for the Australian economy!

Ciao
N

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