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China trade good, but don't forget India

China trade good, but don't forget India article image

Economic forecaster Harry Dent, in Australia on a speaking tour, has warned against the effects of our ageing population. He says that although we have good bilateral trade with China, we should be looking to trade more with India. "If I was Australian businesses and government I'd say, 'okay, China's our best customer now but we need to be cultivating India'," said Dent. "India is the one large country that isn't dependent on just commodity cycles for exports, that could grow dramatically and urbanise." India's economic strength will come to the fore by 2023, underpinned by its youthful population. Dent believes Australia's migrant intake will also help stave off some of the ageing problems. Dent also warned that Australia would head for economic trouble if we did not heed the lessons from the current crash. "I would say Australia is not paying close enough attention to the worldwide housing bubble and banking crisis," he said.

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