Special Report: Can Australia retain its 'lucky country' status?

AUSTRALIA

It managed to escape the worst of the 2008 global recession, but is Australia's fortune about to run out? Maria Merricks reports.

As the 2008/09 financial crisis crippled its developed Western peers, Australia’s economic growth continued relatively uninterrupted. Its ability to seemingly escape regional and global recessions over the last decade has led to it being referred to by many as the ‘lucky country’. Its location has certainly contributed to its resilience. A major beneficiary of the booming China and emerging markets story, the past few years has seen an increasing demand for the country’s commodities base. Exports have more than doubled in 10 years to almost 25% of GDP in 2011, with Asia accounting for...