The Wonder from Down Under: Australia has a lot to be proud of, according to The Economist it may be the most successful rich economy in the world.
Beyond the nations blessing of Iron Ore and Natural Gas, it also enjoys close proximity to China. Metaphorically and physically, the country owes one-third of it’s GDP to China.
However, forward thinking policy is what has helped this country achieve its stature. 29% of Australians are born overseas and nearly half have an overseas born parent.
Following the last recession in 1991, some 27 years ago, the government also reformed the health care and pension system requiring the middle classes to pay for a third of their healthcare needs and compulsory superannuation payments from annual incomes. We hope you enjoy the Special Report on Australia in this weeks Economist.