BHP boss confident in economy

 

　　Mr Nasser also said Australia should establish a global resources centre of excellence.

 

　　He was addressing a luncheon in Sydney on Wednesday organised by the American Chamber of Commerce in Australia.

 

　　Mr Nasser said a centre of excellence was needed because there would be 60,000 workers in the resources sector by 2020.

 

　　But he also said Australians' concerns about the country's economic future were not unfounded. He added that the country was reluctant to commit to a big economic vision.

 

　　Australia's iron ore exporters would face more competition from Brazil, Mr Nasser said.

 

　　Mr Nasser said BHP Billiton was confident about China in the medium to long term.

 

　　He also said there was no substitute at the moment for the US dollar as a global reserve currency.

 

　　Mr Nasser said he agreed with the science on climate change and the general policy direction of pricing carbon.

 

　　But he added there was more downside than upside to the current carbon pricing proposal and he would slow the process down.

 

　　Mr Nasser also said he was worried the government was driving the process of building national broadband network.

 

　　He said Australia should take advantage of its strong fiscal position but needed to spend the money wisely.