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Australian politicians may not keep economy immune from recession for long

The country dodged the worst of the global financial crisis thanks to China, which bought its iron ore and coal and then sent over tourists, students and investors

Scott Morrison
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Scott Morrison, Australian PM | Photo: Wikipedia

Reuters Singapore
Australia's political scene is looking almost Italian. Scott Morrison on Friday became the country's sixth prime minister in less than a decade, after Malcolm Turnbull was forced out. The economy has so far been immune to such upheaval but that could easily change.
 
Australia has avoided a recession for almost three decades, a remarkable feat for an advanced economy. The country dodged the worst of the global financial crisis thanks to China, which bought its iron ore and coal and then sent over tourists, students and investors. A growing population has helped, while a housing boom created wealth, buoying domestic