Australia’s most recent recession occurred in 1991, predating Bill Clinton’s presidency and Donald Trump’s first bankruptcy. Journalist Matt O’Brien explains why. A major factor behind all this good fortune has been China, with its strong demand for Australia’s rich store of natural resources. But exports to China don’t tell the entire story. There’s another, less obvious reason for Australia’s economic robustness that other nations might want to emulate. getAbstract recommends this brief but illuminating article about how the economy Down Under has managed to avoid going under.
In this summary, you will learn
- How Australia has managed to avoid recession for more than two decades and
- Why central bank management of interest rates has played such an important role in aiding Australia’s prosperity.
About the Author
Matt O’Brien is a reporter for The Washington Post.