Pauline Hanson has a problem with the countries to our north having an influence on our culture. However, our culture has already been taken over by America half a world away. Andrew Whitbread-Brown, Cardiff Heights, March 15. The Australian dollar is a small currency at the mercy of international money traders, many of whom can properly be called speculators. Their activities tend to distort both the perception and the functioning of the overall economy.
Economists seem to agree that our dollar is very seriously undervalued.
About three years ago Malaysia was in a similar predicament, with the ringgit being dragged down by forces stemming from the more poorly performing South-East Asian economies. Despite dire warnings from the cognoscenti, the Malaysian authorities put a stop on their currency. That seems to have done no harm. While it upset open-market theorists, it certainly deterred speculators. That, in turn, promoted stability and real investment, and facilitated planning.