Obama and Romney's Australian reach

Battling agendas outlined in the US presidential race will have significant repercussions for Australia, whoever wins. And a growing corporate tax reduction war is one of the biggest game changers.

Australia has a big stake in the 2012 presidential race, which will embrace issues never before seen in a Western country. For example US companies have at least $US1 trillion offshore and both candidates are going to try and attract that money back to the US by joining the global corporate tax reduction war. If they are successful the American dollar could rise and the Australian dollar fall.

Yet both candidates are being forced to slash spending on an unprecedented scale – again with implications for Australia.

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