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Sovereign Wealth Funds Briefing - Categorized | Fund Profile/New Launches

Australia: Making the case for a sovereign wealth fund

Posted on 13 December 2013

Holden has announced that its manufacturing in Australia will drive off into the sunset by 2017. GM’s chairman Dan Akerson attributed this to the “sustained strength of the Australian dollar [and] high cost of production”, or, in other words, Dutch disease. To prevent other exporters doing the same Australia must strengthen its mining tax and save the proceeds in a sovereign wealth fund.
Australia’s car makers are not the only ones that have been struggling. Everyone from wine makers and food producers to aerospace engineers have been affected by the strong Australian dollar. At the same time the price of housing and living expenses have skyrocketed and mining has, well, boomed………………………………………..Full Article: Source


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