You can’t blame the Europeans. The original grand European project had the best of intentions. In the shadows of World War Two – another bitter and bloody war – the leaders of France and Germany decided they never wanted to go to war again. And the idea was that binding Europe together in an economic union would prevent any outbreak of future military conflict.
There is always an “X” factor in economics that comes from out of the blue to shock markets and the global community. There are often geo-political shocks a financial collapse or a public health issue. So far the factor X in 2016 could be Zika. For instance, Brazil was all ready to party with the Olympics in Rio de Janeiro in August but it is now bracing itself for Zika.
The unexpected rise of Bernie Sanders in the US Democratic Primaries due to his large number of young supporters has focussed US business marketers on “the Millennials” which is regarded as a hardest to reach demographic in America today.
It was Paul Keating who said that Australia needs to realise that we get our security in Asia not from Asia.
But what about our economic security?
Despite the dominance of security issues and geo-politics, in the media on the business side of things, Indonesia and Australia are long standing economic partners.
In fact, it was symbolic, that the new Australian Prime Minister Malcolm Turnbull like one of his predecessors Paul Keating visited Indonesia first rather than the tradition of Australian Prime Ministers past to go to London or Washington as their first port of call after assuming the highest office in the land.
When you are punting on this year’s Melbourne Cup, have a bit of sympathy for Australian export businesses who have to make their big bets on international markets in the Asian region.
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