- One of the world’s premier exporters of natural resources
- The biggest cargos are iron ore, coal and natural gas
- Also supplies gold, uranium and even rare earths
- The country’s fortunes are tightly linked to the health of global commodity and export markets
- Relatively small & well educated population
- Well endowed with natural resources: iron, copper, gold, water, famland, ports, good weather, tourism
Extreme Boom Period
- As of 2018, Australia has had a 27 year long boom period - no recession since 1990!
- This is unprecedented when other major economies have had multiple bear markets during this time
- Likely driven by strong demographics and strong resource demand from rapidly urbanizing China & broader Southeast Asia
- However - Achilles heel is a close/concentrated trade relationship with China: If China slows, so may Australia
Australia Nicknames
- Lucky Country