The Reserve Bank, it was contended, also had to keep a watch on inflation expectations since the inflation outlook will be shaped by what people expect will happen to inflation as much as by the actual inflation itself. 34.
Our exports to Japan have virtually not increased at all during that period. The other big Asian markets for Australia are Korea, China, Taiwan and Hong Kong. These are collectively much more important than the ASEAN four. Of course, some of the underlying problems that afflict the ASEAN four also apply, although more modestly, to some of these countries.