The year that was and what's to come

摘要

The year 2009 is one that many in the resources sector would prefer to forget. An instant snapshot of the slowdown is reflected in the number of new Australian mining IPOs that got away during the year: Just 10 of them. Compare this to the halcyon year of 2007 when there were 135 listings. In 2008, this had dropped to just 47 - but still nearly five times the figure for 2009. Everyone has a theory on what caused what we now call the GFC, but a rather good precis of it comes - perhaps surprisingly - from the chairman of the Australian Prudential Regulation Authority, John Laker.