In a commentary, SMU affiliate faculty member and Visiting Fellow at Asialink and the Australia India Institute, Tejpavan (Pavan) Gandhok suggested that Australia should be more pro-active in enticing the significant and growing pool of Asia's nouveau riche US-dollar millionaires to manage a portion of their personal wealth portfolios in Australia. He felt that it would be a significant counterbalance to the mining sector and a major source of economic activity for the financial centres of Australia's eastern seaboard. In order to attract more Asian millionaires, Gandhok noted that Australian economic planners should recognise that it is worth gaining a significantly higher volume of assets under management in exchange for a lower tax rate.