S. "increased its production of goods and services in the first few months of 2009…Alone among the developed nations that belong to G-20, it was not being sucked into a world recession" (Stutchbury 2010). Its currency even reached parity with the U.S.
One unique facet of Australia's economy not present in the other developed nation that were hard-hit by the credit crisis is the expansion of its mining sector. In the years before the credit crisis "Australian iron ore was stoking the very Chinese industrialization that in turn was recycling a massive export surplus into excess U.S. consumption, driving up Washington's budget deficits, and inflating an American housing bubble that would almost bring down the global financial system" (Stutchbury 2010:4). This sustained demand for its commodities and mining products. Technology and globalization which has spread to the developing world was strong enough to keep the Australian economic 'miracle' afloat (PNC, 2011, Australia Banking and Finance).
Deregulation
Although technology and globalization fueled Australia's export boom, ultimately it was deregulation that laid the groundwork for its current state of financial health. During the 1980s, Australia's traditionally high import barriers were done away with, which had heretofore protected its manufacturing sector from global competition. Businesses were privatized and trade unions were substantially regulated, to reduce the unions' collective leveraging for higher wages and benefits. Regulations upon the financial industry were substantially curtailed, but not on as dramatic a level as occurred in the U.S. Or even in the UK. And "the Australian line is that on both sides of the North Atlantic, banking rules were not necessarily too lax -- supervisors simply had not enforced them" (Stutchbury 2010:5-6).
For example, within the agricultural sector it has been alleged that "deregulation inevitably invokes structural adjustment, forces farmers out of agriculture,...
3.2.3 Portfolio Diversification of Investment in Global Property Markets Because the global property markets are affected by globalization and specific country / regional factors, means that the overall amounts of risks will vary, the most notable include: transparency and efficiency. Where, each country / region has different on laws and regulations pertaining to the real estate markets. This means that the risks in a number of different markets will depend upon
International Financial System The country you chose. The country chosen for this analysis is Australia. The exchange rate and the total amount of the currency you purchased with your $90,000. As of June 9, 2013 the current value of $90,000 is $94,724.90. Your prediction for whether your country's currency with increase or decrease in value with respect to the dollar. The Australian exchange rate will continue to be weak against the U.S. dollar, as the relative
Australia What steps did the Rudd government take to lessen the impact of the global financial crisis? Why do you believe they took these steps? The global financial crisis has had a profound impact on nations around the world. I applaud Rudd in his efforts to abate and diminish the influence of an interconnected society on Australia. On method utilized in which to diminish the impact on the Australia was to instill
These insights from the Simulation were meant to be a valuable contribution and reference for the effective implementation of Australia's health reform agenda, according to AHHA director Prue Power (AHHA). Implications on the Medical Devices Industry The Reform Plan may also trigger a series of swift market changes for this industry (MedicExchange, 2010). A Frost and Sullivan consultant projected that the U.S.$2.3-billion medical devices market would grow at an estimated 9%
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