{"id":6432,"date":"2012-12-10T03:36:16","date_gmt":"2012-12-10T08:36:16","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=6432"},"modified":"2012-12-10T03:36:16","modified_gmt":"2012-12-10T08:36:16","slug":"pettis-australia-should-be-pessimistic-macrobusiness","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/10\/pettis-australia-should-be-pessimistic-macrobusiness\/","title":{"rendered":"Pettis: Australia should be pessimistic &#124; MacroBusiness"},"content":{"rendered":"<p>Michael Pettis writes about the latest Australian government White Paper <em>Australia in the Asian Century<\/em> that projects an average 7% GDP growth rate for China between 2012 and 2025:<\/p>\n<blockquote style=\"background-color:#ddddff;\"><p>This seems to put the Australian government among the most optimistic in the market when it comes to long-term growth expectations for China. I have always assumed that government projections should generally be on the pessimistic side to prepare for unexpected negative shocks (positive shocks can take care of themselves), but apparently not. I am glad to say that my own conversations with Australian government officials lead me to believe that this White Paper may represent the official view of the government, but it does not represent the private views of all Australian government officials&#8230;&#8230;.<\/p><\/blockquote>\n<p>Read more at <a href='http:\/\/www.macrobusiness.com.au\/2012\/12\/pettis-australia-should-be-pessimistic\/?utm_source=Media+List&#038;utm_campaign=5118d5684d-RSS_DAILY_MAILCHIMP_CAMPAIGN&#038;utm_medium=email'>Pettis: Australia should be pessimistic | MacroBusiness<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Michael Pettis writes about the latest Australian government White Paper Australia in the Asian Century that projects an average 7% GDP growth rate for China between 2012 and 2025: This seems to put the Australian government among the most optimistic in the market when it comes to long-term growth expectations for China. I have always &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/12\/10\/pettis-australia-should-be-pessimistic-macrobusiness\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pettis: Australia should be pessimistic &#124; MacroBusiness&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,41,5],"tags":[663,1530],"class_list":["post-6432","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-china-hk","category-economy","tag-china","tag-gdp-projections"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pettis: Australia should be pessimistic &#124; MacroBusiness - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pettis: Australia should be pessimistic &#124; MacroBusiness - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Michael Pettis writes about the latest Australian government White Paper Australia in the Asian Century that projects an average 7% GDP growth rate for China between 2012 and 2025: This seems to put the Australian government among the most optimistic in the market when it comes to long-term growth expectations for China. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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Their economy never really suffered in the recent debt crisis, in large part due to their growing housing market and their trade with China. If you talk to the average Aussie, they think that all is right with\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61935,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/06\/10\/australia-cautiously-pessimistic\/","url_meta":{"origin":6432,"position":1},"title":"Australia: &#8220;cautiously pessimistic&#8221;","author":"Colin Twiggs","date":"June 10, 2025","format":false,"excerpt":"Summary The ASX 200 threatens a new high But consumer sentiment is low Business conditions are weak Commodity exports are slowing, and so is economic growth ASX 200 earnings are likely to follow The ASX 200 is testing resistance at 8600. Breakout would signal a fresh advance, but the earnings\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-10-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-10-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-06-10-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":43889,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/09\/06\/chinas-debt-and-implications-for-australia\/","url_meta":{"origin":6432,"position":2},"title":"China&#8217;s debt and implications for Australia","author":"Colin Twiggs","date":"September 6, 2023","format":false,"excerpt":"China remains Australia's biggest export market despite a rapid fall in exports during the COVID pandemic -- in retaliation for Morrison government calls for an inquiry into the cause of the outbreak. Value of LNG exports to Japan have surged, after Russia's 2022 invasion of Ukraine, but China remains our\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian Exports by Country","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-09-05-aus-exports-country.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":39471,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/12\/10\/australia-hard-times\/","url_meta":{"origin":6432,"position":3},"title":"Australia: Hard times","author":"Colin Twiggs","date":"December 10, 2022","format":false,"excerpt":"You don't have to be an Einstein to figure out that 2023 is going to be a tough year. Australian consumers have already worked this out, with sentiment plunging to record lows. The bellwether of the Australian economy is housing. Prices are tumbling, with annual growth now close to zero.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australia: Consumer Sentiment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-12-09-aus-sentiment.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":23238,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/15\/chinese-demand-lifts-iron-ore\/","url_meta":{"origin":6432,"position":4},"title":"Chinese demand lifts iron ore","author":"Colin Twiggs","date":"December 15, 2020","format":false,"excerpt":"China\u2019s top steel mills, including China Baowu Steel Group, and the China Iron & Steel Association (CISA) met on Thursday to investigate soaring iron ore prices. They held a video discussion with BHP who confirmed their production remained strong, with no major weather interruptions to operations. Atilla Widnell, managing director\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14506,"url":"https:\/\/thepatientinvestor.com\/index.php\/2016\/11\/18\/china-choosing-more-debt-more-unemployment-or-transfers-michael-pettis\/","url_meta":{"origin":6432,"position":5},"title":"China: Choosing More Debt, More Unemployment, Or Transfers | Michael Pettis","author":"ColinTwiggs","date":"November 18, 2016","format":false,"excerpt":"From Michael Pettis: I have often written in this blog and elsewhere about the three policy choices Beijing faces as it tries to manage through the adjustment process. My argument is that subject to two very plausible assumptions, every economic policy Beijing implements ultimately can be abstracted to one choice\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=6432"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/6432\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=6432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=6432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=6432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}