Australia’s economic position in the Asia Pacific Region has receded further this year
Updated: Nov 3, 2020
The Australian economy has been flagging for several years with profits from coal and gas exports declining steadily. As neighbouring countries become more and more energy independent, can the Australian economy re-align to become a regional leader again?
June 22nd 2050
In the face of strong growth in Indonesia, Vietnam and Thailand, and increasing challenges with cyclone destruction and the effects of drought, Australia has experienced yet another year with a flatlining economy. Australia is still trailing behind other neighbouring nations in renewable energy generation and the Prime Minister has thus announced the need for yet another year of subsidised renewable energy importation from Singapore and Vietnam to meet the shortfall. Global markets for our biggest exports, oil and coal, have been steadily declining since the early 2030’s, and Australia has been playing catch up since 2040. The government has today announced further cuts in the areas of foreign aid and development in a bid to invest more heavily in local industry, welfare and stimulus domestically. The main focus of our international aid remains the Pacific Islands.