- Needs to adjust to change in China growth outlook.
- Says “new China” will produce growth of around 7.0% next 5-years not 10%.
- Australian dollar hasn’t moved with the “times” and overvalued at parity.
Well pretty much in line with other forecasts, 6.5% up to 8.5% for 2012-2013, but big questions still remain about their own domestic growth and not just the weakening mining sector.
AUD/USD trading sideways at 1.0444/47.
Side note from the WSJ- PBOC adviser sees no signs of rebound.
