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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (11964)	12/19/2001 8:35:42 AM
From: Moominoid	Read Replies (1) \| Respond to of 74559

The currency devaluation coincident with the Asian Crisis helped us get through the crisis without a recession by diverting our exports to other countries and getting more Aussies per USD received. Note that the devaluation makes imports more expensive - this isn't good for producers that need to import raw materials and capital equipment - but it also diverts consumers from buying imports to buying local product. It's that together with the increase in export receipts that results in devaluation increasing the GDP.