What has Australia done right, to be the only g20 country not in recession?

Question

Autsralia is the only G20 economy not currently in recession, what have we done right for this to be so?

Answer 1

Best Answer - Chosen by Voters

Just a point - we only have big pollution rates per capita because we mine so much of the uranium, coal etc that the rest of you lot use for power... And because we make so many solar panels...

Anyway, everyone puts it down to Kevin Rudd, but part of the reason is John Howard, who put through legislation in the 1990's to combat an issue we had with our banking system then. It makes it almost impossible for out banks to run out of money, which has been one of the big reasons everywhere else is in recession. Kevin Rudd has also put out these payments to keep the cash flow up, and our interest rates have gone down quite considerably to help support the housing market.

The other reason is that we have the whole global economy thing integrated into a local economy, which is not dependent on global markets to survive. Out strong base in trades, manufacture, scientific and medical research, exported goods etc has meant that we are still getting plenty of money come into our local economy, which has really helped.

It's really close though. We were at about 0.20% growth in our economy last quarter,comparable to something like the usual several % points, which almost put us into recession. If anything in the last 20 years economically hadn't been done we would be screwed.

Hope this helps, good luck!!

Answer 2

We kick *** thats why

Answer 3

Got rid of John Howard and elected Kevin Rudd to run the place properly.

Answer 4

your population to job ratio

Answer 5

Kevin Rudd, the Australian Prime Minister had provided 2 stimulus packages over about a time length of a year at December and I believe April or May for the second one. This had been around the time and before
other countries took part in the plan. The stimulus package helped to expand a lot of Australia's public services which were long due since John Howard the previous Prime Minister of Australia barely improved the status of those services.

Therefore many jobs were saved and we avoided negative growth and therefore employment and our economy has been left high, even our deficit is lower than other cities and countries.

Source(s):

Yeah, I watch the news.

Answer 6

The amount you pollute probably helps

Answer 7

Praise Kevin Rudd!
:)

Answer 8

It's NOT.

Saudi Arabia has never been in the red.

Also, I believe signs of recovery were seen in a few other nations, like France, Germany, and Japan.