Jim O'Neill says Australia will be a big loser

Jim O'Neill says Australia will be a big loser. Jim O'Neill, former GSAM Chairman says that new winners and loser will emerge as China transitions from infrastructure-led investment to consumer-led growth. O'Neill says There is a new China being developed, more focused on quality and its own consumers, and less on low-value-added exports and heavy industry, Mr O'Neill said. The winners and losers are very different: Mexico, big winner; Australia, big loser. Many commodity producers are losers unless - like Mexico - they are competitive and can produce a lot of things China did. O'Neill also discusses the BRIC (Brazil, Russia, India, China) economies and their continued prospects in this article. (VIEW LINK)