The David McWilliams Podcast The Land of Opportunity Down Under: Australia
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Oct 21, 2025 Explore the marvel of Australia's economy, which has remarkably avoided recession for nearly half a century. Discover how immigration, vast natural resources, and smart fiscal policies contribute to this success. Learn about Brisbane's vibrant cycling culture and its contrast with Sydney and Melbourne. Delve into the fascinating balancing act of navigating ties with both the US and China. Amid record house prices and soaring costs, Australians embody a unique cultural dynamism driven by their immigrant roots.
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Unbroken Growth Streak
- Australia avoided a recession for nearly 45 years, growing steadily at about 2–3% annually.
- This consistent, modest growth compounded into major economic expansion and stability.
Resource Wealth Meets Asian Demand
- Australia became the world's quarry, exporting vast resource wealth, especially iron ore and coal.
- Proximity to booming Asian markets turned resource exports into sustained national income.
Flexible Central Bank Strategy
- The Reserve Bank of Australia balances low inflation with growth, not inflation alone.
- They use a flexible exchange rate to let the currency fall and protect exporters during downturns.
