Aussie Dollar Reflects Thunder Down Under
May 13th, 2008 | By Sally Limantour | Category: International InvestingHome to the kangaroo, the Sydney opera house, and one of the most beautiful harbors in the world, the “land down under” is getting rich.
Australia is the sixth-largest country in the world in terms of land mass — and yet the entire Aussie population is on par with greater Los Angeles.
Also known as “the lucky country,” Australia is loaded with natural resources, and is one of the world’s largest exporters of minerals and other commodities. The rising tide of industrialization has Australia’s top 10 customers buying over 70% of their exports. China is projected to become Australia’s biggest customer, bar none, in the next three years.
In 2007, Australia also dominated mining company mergers and acquisitions in the Asia Pacific region. They alone accounted for 20% of the world’s 50 largest mining deals.
The insatiable appetite for resources from China, India and the rest of Asia should keep Australia strong… and their currency reflects this strength, as the Aussie dollar continues to make new highs.
Money flows to where it is best treated, and Australia is one of those favored places. There are many ways to play this trend, from the currency itself to various stock ideas. Readers of the Taipan newsletter are keeping up with both. Join us, and you can, too.
Sally Limantour
Editor, Taipan
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Sally Limantour is the Editor of the 