Summary of Australia Hasn’t Had a Recession in 25 Years

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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.

 

Summary

Australia hasn’t experienced a true recession since 1991. The only blips on the radar screen have been brief periods of rising unemployment in 1996, 2001, 2009 and 2013, from which the economy quickly recovered. Exports to China are a major reason for Australia’s prosperity. The country is blessed with...

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