Australian Voters Reject Howard, Elects Rudd
Alright global economy, start taking notes. Australia is definitely doing something right. For the last 14 years, Aussie economy has invariably grown 4 to 5 percent. However, they recently elected a new Prime Minister, and rumor has it no matter who was elected their economy would have continued the historically steady annual growth.
The interesting part of this is Australia had to change hands from their conservative party leadership of the last four elections, to a liberal party leader. Normally such a Drastic change in leadership would be detrimental to economic growth, but Australia is a very special case.
A New Breed of Economy: The Marsupial Bull
Due to the steady growth for more than a decade, the national debt is almost gone, and Aussie currency trades very well against the U.S. dollar. The future looks all the brighter too thanks to a free trade pact with the U.S., and China coming soon.
Australia is also a big target for business, netting $52 billion in foreign investment. Financial, energy, and natural resources are its biggest industries, and those industries just so happen to be on the top in terms of demand and projected growth around the globe.
But they do have problems
Health care and borrowing rates are among the nation's biggest concerns. There has been some instability in that area, but with all that burgeoning Aussie economy, those issues can be focused on by the next leader without detriment to Australia's growth.
I'm just waiting for the rest of the world to wake up and pay attention – because Australia obviously knows what they are doing!
Just my opinion, but..
I like Kevin Rudd. Why? He already lives and implemented in his life the concept of Corporate Multicultural Responsibility. Also, SunTech Power, a very socially responsible company investing big bucks in renewable energy research, will get a boon from Rudd's win.
I'm pretty sure with Kevin as Australia's "Rudd"er, they will be guided into a great future. Good luck mates!
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