News

Queensland

Leading Queensland Economist Dr Doug McTaggart Speaks at ACBC Qld Chinese New Year Dinner

1 February 2012

LEADING QUEENSLAND ECONOMIST DR DOUG MCTAGGART SAYS AMERICA IS REINVENTING ITSELF AND WILL TAKE ON CHINA TO BE JOINT FUTURE LEADERS OF GLOBAL ECONOMIC POWER 

Leading economist Dr Doug McTaggart has told an audience of 320 Queensland corporate, Government and community leaders doing business with China, that America is on track to make a comeback and will share centre stage with China as joint world engines of future economic growth. 

Speaking at the Australia China Business Council Queensland Branch’s annual Chinese New Year dinner celebration at Sunnybank in Brisbane, Dr McTaggart, who is the Chief Executive of Queensland Investment Corporation (QIC), said that the mining boom, spells good news for our near future with China, but it will moderate as commodity prices fall and our trading base with China expands.

“And, don’t write off the United States just yet,” he added.

Dr McTaggart, who has run the QIC, a leading institutional investment manager with over $70 billion in funds management for the past 14 years following a career as an economist in Australia and America, said the US economy is in the process of reinventing itself, as it always does.

“Both Australia and China are inextricably linked to the US economy and while the Chinese appetite for Australian commodities will not falter, the US is bouncing back and Australia should maintain the best relationships with both super powers,” he said. 

ACBC Queensland branch President Steve Abbott said the ACBC represented "many and varied industries and the comparisons made by Dr McTaggart to the US economy would be welcomed by the members".   

• Dr McTaggart Speech (78 KB pdf)