Australia is the first country of the G20 nations to raise interest rates to 3,25 % ( was 3%) as Australian economy expands in the first half of 2009. The strength of the Australian economy is based on the fact that Australia has a lot of natural resources (iron ore, bauxite, gold, copper, etc.); as China is very active in the building sector and reconstruction, the Chinese are major clients for Australia’s commodities, but they are also major players in the Australian economy through direct investments. Another factor is that Australia has a lack of manpower and therefore is slackening their immigration policy to attract people to come to Australia. To state that the global economy is recovering might be overoptimistic as Australia’s economy was and is healthier than the rest of the G20 countries.
Arnaud Bakker
1 opmerking:
S1: 3.25%
S1: as THE Australian economy expandED (over now).
Role of China can be foregrounded more. Good linking. Clear focus.
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