Many Australians are taking advantage of the rising $AUS against the $US to go online shopping or book a holiday to the USA. However Australian businesses selling goods and services overseas which are paid for in $US are unhappy as their income continues to fall.
This is my first experiment using Storify – a new tool to filter the social web to present news topics in a different and more compelling way.
One thing for sure, we are all living in difficult financial times… Interesting read!
The Storify site didn’t give a lot of explanation. Is it doing Content curation?
This is absolutely right, it is the same thing that has been happening in the U.S. for years. Consumers have benefited from cheap imports while jobs were shipped over seas. Eventually though it will catch up to Australia, as it has the US, because currencies can’t appreciate forever.
Watch for commodities prices to fall though with a corresponding drop for the AUS dollar. China has to stop buying soon…