Beyond the World news headlines
Newsmaker: Australian Treasurer Wayne Swan
Australian Treasurer Wayne Swan will take questions from Thomson Reuters clients on how Australia managed to avoid recession and where the economy goes from here, at 9:15 am AEST on Tuesday (7:30 pm on Monday, EST).
The so-called “lucky country” dodged recession partly because of massive government stimulus, a conservative banking sector and strong Chinese demand for its resources exports, but there are concerns its luck may eventually run out. While other rich nations grapple with record high unemployment, Australia is starting to worry about inflation, a possible housing bubble and an over-reliance on China.