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QE3 to enhance Australia, China economic ties (2)


08:23, September 21, 2012

China braces for impact

The forecasted stabilization of the Aussie dollar is some consolation for the Chinese economy, which is anticipating a slowdown in the manufacturing sector due to the depreciation of the USD.

But So suggests that the long term effects of QE3 for China are still unclear, and will become more apparent later in the year.

Over the coming months, "we need to look at the U.S. election, see the final outcome, and then we'll see the long term effects of the QE3 on the Chinese economy and the manufacturing sector," he said.

And an anticipated stimulus plan from the Chinese government may prove an economic game-changer.

"The market has been expecting the Chinese government to release a massive new stimulus plan after October, but we don't know for sure, and the uncertainty in the market is growing.. Volatility in the market will be much greater than before, so investors should be cautious."

While China and Australia continue to break new ground in an economic relationship dominated by Chinese demand for Australian resources, China and the U.S. remain at loggerheads when it comes to fiscal policy.

"They're (the US Federal Reserve) just spinning money out of nowhere, and the rest of the world has to feel the damage."

So added, regardless of who becomes the next president, "there will be a tougher environment between the U.S. and China on both economic and political fronts. That is the main effect."

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