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On this episode of The nestegg Podcast, the CEO of Industry Super Australia, Bernie Dean, shares his insights into the impact of COVID-19 on super funds.

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Bernie joins host Grace Ormsby to unpack how the economic downturn has been affecting different demographics, why many in the older age bracket are experiencing increased levels of anxiety, and what those people can do to preserve their nest egg and minimise their losses.

Bernie also delves into Industry Super Australia’s stance towards accessing superannuation early as part of the government’s stimulus measures, whether now is a good time for people with the means to contribute extra to their super, and industry fund plans for a road to recovery for both their members and the national economy.

Thanks Bernie, for sharing your insights with the nestegg podcast team!

You can keep up to date with what Industry Super Australia are up to HERE

Have an investment story to share? Get in touch at [email protected] and you might get featured on the next episode.

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Wednesday, 03 June 2020

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Will tensions threaten the world’s economic recovery?

By Cameron Micallef · May 22 2020

Reading:

Invest

Will tensions threaten the world’s economic recovery?

By Cameron Micallef
May 22 2020

Reading:

Will tensions threaten the world’s economic recovery?

By Cameron Micallef · May 22 2020

Reading:

The fallout from the COVID-19 pandemic has led to a blame game, with Australia and its allies calling for an inquiry into the virus and the Chinese government responding with tariffs on international trade.

Following Prime Minister Scott Morrison’s calls for an investigation into the start of COVID-19, the Chinese government has put pressure on Australia through a barley tariff as well as new inspection procedures over Australia’s iron ore sent to China.

The world’s second-largest economy has also threatened Australia’s agriculture sector, with Australia’s largest exports in dairy and wine at risk.

China is also facing renewed tensions with the United States as the two largest economies renewed a war of words, despite only recently signing a free trade agreement.

Nikko Asset Management chief global strategist John Vail commented on the issue of the US-China trade dispute, noting “there are a multitude of factors that could further harm US-China relations”.

“The markets are not particularly concerned about such as they believe Trump will not extend measures that would cause great harm before the election six months from now,” Mr Vail said.

The asset manager also noted China’s willingness to take on the West over COVID-19.

“China also seems willing to accept increased pressure by the US, and even by much of the Western world, without major reprisals, except that it seems to be using trade restrictions as a method for punishing Australia for its desire for an independent inquiry into the virus’ origins and restrictions on China’s 5G equipment,” Mr Vail said.

However, Mr Vail does not believe tension will stop the economic recovery, stating it will likely be a Nike swoosh shape recovery.

“A checkmark/swoosh type of recovery is likely, but the right tail is unlikely to be a straight line, with the late 3Q being the maximum acceleration period, and a bit slower or choppy afterwards.

“Inflation will be very hard to measure, with many prices rising sharply in order to compensate for social distancing. Air travel and restaurants will likely be much more as luxuries for many.

“Industry consolidations will likely occur globally and government involvement in economies will remain very large, especially in the national security/supply chain aspects, as well as financing of struggling industries,” Mr Vail concluded.

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.