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The Google Index
I have been saying that the direction of the Australian economy is very dependent on the events that unwind in Asia predominantly China. These countries are fuelling our resources sector as they demand more and more.
Well guess what we are in the age of new technology so maybe we need to start looking at new economic indicators. The most famous economic indicator drawn from everyday life is the “Big Mac Index” which compares the price of the very famous burger in different currencies. This measures, however crudely, the difference in purchasing power of different currencies.
However, maybe we need to be considering the “Google Index”.
According to a recent article by The Economist, It appears that many Chinese are now concerned with the implications of their economic position if the frequency of the Chinese equivalent to “Hard landing” and the amount of times it has been searched in Google is any indication.
Has Australia utilised these good times in regards to establishing ourselves for post resources boom? Or will we look back and think what a wasted opportunity?
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