http://www.bloomberg.com/news/2011-07-31/swan-says-australian-economic-credentials-among-world-s-best.html?cmpid=
The mining investment boom in Australia is a “mixed blessing” for the economy as a rise in the local dollar hurts the manufacturing and tourism industries, Treasurer Wayne Swan said.
“Clearly the high dollar is making life pretty tough for many trade-exposed sectors,” Swan said. “The lingering effects of the global financial crisis are adding to this, with a cautious consumer and tighter credit.”
The mining investment boom in Australia is a “mixed blessing” for the economy as a rise in the local dollar hurts the manufacturing and tourism industries, Treasurer Wayne Swan said.
“Clearly the high dollar is making life pretty tough for many trade-exposed sectors,” Swan said. “The lingering effects of the global financial crisis are adding to this, with a cautious consumer and tighter credit.”
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