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Michael Collins

China’s new model is a plan for a hostile world

China is approaching a 'Lewis turning point' at the same time it faces a demographic time bomb with its rapidly-ageing 1.4 billion population. How it solves these problems will have a massive impact on Australia.

Biden is stimulating an economy already enjoying a sugar hit

US growth forecasts for 2021 are as high as 8%, so is the massive stimulus a superfluous ‘sugar hit’ amid shrinking spare capacity? High government debt points to taxes and reduced benefits, with inflation risks.

Germany will do the minimum to support the euro ... and Europe

Germany benefits from the European currency union that makes the country an export dynamo, but there are at least five reasons why it is reluctant to force the economic and fiscal union the continent really needs.

The pivotal fight between China and the US

Microchips are the key battleground in the rivalry between Beijing and Washington because the integrated circuit ranks with the internal combustion engine and electricity as inventions of consequence for everyday life.

Britain amid COVID and the pain of the final exit talks

No option removes the existential threats to the UK stirred by its EU departure. What started in 2016 as enough voters defying the odds has left the UK dangling politically and economically amid a pandemic.

10 reasons low interest rates may limit growth

Ultra low interest rates could be counterproductive for economic growth. Policymakers need to rely less on monetary stimulus and be mindful of the side effects they are creating, especially for retirees and savers.

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Investment strategies

Choose your hedges wisely… and often

A new market regime is exposing the fragility of static hedges. With correlations shifting and safe havens flipping, investors must rethink diversification and adopt more adaptive tools to protect capital.

Investment strategies

Yields take centre stage again

The Australian credit landscape is shifting. Yields are rising, issuance is strong and spreads continue to tighten. Income is re‑emerging as the dominant driver of returns, though pockets of risk may be building beneath the surface.

Investment strategies

The grass is always greener: Rethinking Australian vs global equities

Australia's once‑dominant sharemarket is losing ground as others surge ahead, prompting investors to question home‑bias instincts. Meanwhile, the US market appears attractive. Is it time to revisit your global equity allocation?

Investment strategies

Stop asking if there's a stock market bubble. Ask this instead.

Markets continue to push onwards despite valuations looking stretched by historical standards. Bubble talk is rampant, however investors may be focusing on the wrong thing. The real story sits deeper than the headlines.

Taxation

The GST cannot stop inflation

Raising the GST when inflation jumps sounds clever on paper, until we examine how it may play out in practice. What is pitched as a simple inflation fix can lead to a sharp turn in the wrong direction for prices.

Shares

Why SpaceX is coming to your super fund

SpaceX’s blockbuster debut is grabbing headlines, but the real story for Australian investors is much quieter. Giant listings eventually filter into super funds and ETFs, subtly reshaping portfolios long before most realise.

Taxation

Is the government being honest with us about its business CGT changes?

The government’s assurances on small‑business concessions don’t withstand the scrutiny. Token carve‑outs and a lack of credible rationale for CGT changes may reshape how Australia rewards long‑term value creation. 

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