Kevin Rudd Economic Essay

Kevin Rudd Economic Essay-35
And that's just the tip of the recessionary iceberg, the world is sailing towards, Rudd opinion piece published in the Australian Financial Review (AFR) on Thursday." data-reactid="25""Global economic storm clouds are gathering.The US is already 10 years into its current growth cycle – the longest in modern economic history.Despite that final admission, Rudd also couldn't help himself when he gleefully lashes those at the controls this time around."The current government, rather than returning the budget to surplus over the last three-six years, as it solemnly promised during previous elections, is now politically obsessed with a 2019-20 surplus, potentially exacerbating any slide towards recession," he wrote.

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There's plenty going on in the world right now to make investors, markets and even former Australian Prime Minister Kevin Rudd nervous.

Interest rates in Australia and abroad are at record lows, the US-China trade war is escalating, a hard Brexit is fast-approaching, and the prospect of war with Iran could capsize the world's oil supply.

Italy is still at risk of defaulting while the UK and Germany are proabably already in serious economic trouble." data-reactid="23"Interest rates in Australia and abroad are at record lows, the US-China trade war is escalating, a hard Brexit is fast-approaching, and the prospect of war with Iran could capsize the world's oil supply.

Italy is still at risk of defaulting while the UK and Germany are proabably already in serious economic trouble.

The subtle advice has all but fallen on deaf ears, forcing Lowe begrudgingly down a path of lower rates instead." data-reactid="51"RBA governor Philip Lowe has all but asked Morrison and Treasurer Josh Frydenberg to loosen up the purse strings and ramp up government spending on things like infrastructure and raising Newstart to get the economy firing.

The subtle advice has all but fallen on deaf ears, forcing Lowe begrudgingly down a path of lower rates instead.

In fact, Rudd puts our chances of going into a recession next year at "one-in-three"."The risk of recession in Australia next year is therefore real.

The question for government is, are they prepared to prevent it? " data-reactid="29"It's an interesting question to be posed by Rudd, having been at the wheel when the 2008-2009 Global Financial Crisis (GFC) sent many countries into recession, but not Australia.

The centenary of the Communist Party of China (CPC) in 2021 is the first weigh station for evaluating the progress made toward realizing Xi’s “Chinese Dream.” In 2013, the year after he became China’s paramount leader, Xi promised that by the centenary, poverty would be eliminated and the country would achieve “moderate prosperity,” which is usually interpreted in official Chinese outlets as middle-income status.

Whatever the actual numbers, the CPC will undoubtedly proclaim that both benchmarks were achieved with flying colors.

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