Newton tips Australia for growth

Pidcock, who manages the Newton Asia Income Fund, says while he has longer term structural concerns over the health of the Chinese economy, he believes that the Australian dollar is an asset-backed currency, and with the country boasting more resource wealth than its relatively small population can ever consume, for many decades it will be a net exporter. "Indeed, there is even the potential for the country's significant liquefied natural gas reserves to take it into budget surplus.” Pidcock further backs up his optimism for Australia’s prospects by adding that while interest rates are r...