BUSINESS FORECAST IS A WILD RIDE AHEAD
Written on the 14 May 2012
THE next wave of prosperity may reach our golden shores as soon as 2014, but BIS Shrapnel chief economist Frank Gelber (pictured) warns tourism investment must improve.
As economic conditions improve, Gold Coast business leaders need to be more positive-minded and cast away the frugal corporate culture they acquired during the downturn and a summer of disasters.
The US restored its manufacturing powerhouse status in the 1980s, because the US dollar fell and Japanese Yen rose. Countries like Greece could similarly avoid a whopping great recession by depreciating their currencies where possible. The alternative is reducing wages and asset prices by 20 per cent, but human greed has shown this is an unlikely choice.