Why Australia hasn't had a recession in 27 years
Original Content Publication Date: 02/08/2019
America's economy is on track to its longest period of growth on record, reaching one decade in July 2019. But that's nothing compared to Australia's 27-year run without a recession. Known as "the Lucky Country", Australia benefits from many different factors that have allowed them to avoid an economic collapse for as long as they have.
- Australia sits on a treasure trove of natural resources like iron, gas and coal
- China's economy is exploding and many of the resources for China's growth are drawn from Australia
- In 1983, Australia's dollar was moved onto a floating exchange rate
- Australia immigration policy allows for many people to immigrate to Australia, increasing their GDP
- In what ways could America replicate Australia's economy to benefit our own?
- How does Australia's immigration policy help to grow their economy?
- What effect does the floating exchange rate have on the influence of money movement in Australia's economy?