The innocent national leaders of Down Under, actually, when Labor Party rules the government, they are keen to tie with comrade China, despite in the formality, they raised the mouthful confirmation with the US ally. Nevertheless, Australia has big the land, rich natural resources but the population is about 25,000,000, the national security and border do need the US. Therefore, the Labor government often played the double-cross game between China communist and the US.
The mining boom’s period was also the trade tie with China, the close relationship conducted Australia deeply involved with China on the economy, actually the currency. In 2012, under Labor’s rule, Reserve Bank of Australia (RBA) signed the current wrap agreement with the People Bank of China (the monetary firm owned by China communist regime), so Australia stored $AUD 40 billion or 200 billion Yuan. When Yuan devalued, Australia plunges, it is the consequence of financial sharing. Therefore, when President Donald Trump adjusted the unfair trade with the new tariffs, certainly, the countries linked the money and economy with China have to be affected. However, Reserve Bank of Australia’s governor Philip Lowe has tried to escape the responsibility, he didn’t tell the truth to Australian people, instead, Mr. Governor pours the problem comes from President Donald Trump.
Mr. Governor of RBA Philip Lowe must review the critical mistake made by Labor Government from the past, actually, within 6 years, Labor Prime Minister Kevin Rudd and Julia Gillard shattered Australia’s economy. Moreover, the Labor government put the fair trade behind the trade tie, so the country is faced the economic downturn. The Royal Commission trials the big banks in Australia are Commonwealth, Westpac, ANZ, NAB, AMP, the money laundering, misused the money and the serious scandals. Therefore, the Royal Commission has not taken the Reserve Bank of Australia on the table. In the record, Reserve Bank of Australia linked the corruption of Vietcong’s currency polymer.
The Australia dollar struggles with the loss of valuation that reflects the consequence of China boom and Australia tied with the red empire. Before the Australia dollar hit high record, sometimes, one Australia equals 1.10 USD. Now, Australia hit the lowest in 6 years. The national economy is engaged in the disaster when the debt is up a trillion dollars. China Yuan is uncertain, it continues to lose the valuation after the US imposed the new tariffs on China products. Nevertheless, the foreign companies rush to leave the communist paradise in China, actually, the US companies repatriated to avoid the loss of profit. When China downed, the Aussie falls, it is inevitable. In the passage of time, the Australia dollars increased the valuation under President Barrack Obama who made America worst off ever when the US dollar lost the value and Australia dollar gained the valuation. Now, the US changed the leadership, President Donald Trump fights against the global economic terror comes from China then Australia follows the loss because China tied and sharing the economy.
Australia dollar plunges that worries the investors and business, the Australia dollar loses the valuation every day, it struggles below 0,72 cent of one USD. The dismal economy will come, someone predicts Australia dollar will equal 0,5 USD, the valuation lost half. The world could measure the loss of Australia and should know the difficulty of China. The Australian economists, actually, Mr. RBA’s governor Philip Lowe does not slam the US and pours the loss of currency to President Donald Trump. Instead, they must find the way to escape China’s involvement as soon as possible, nevertheless, they have to find the solution to reduce or eliminate Yuan into the banking’s system./.
(thedawnmedia.com)