Australia in the edge of Recessions?
Reading the news about global economic, I come across a news about a possible crisis or recession in Australia. It’s predicted because of the global warming issue. Australia quite suffers from global warming effects. The got draught and their production decline. But is it possible that this situation will lead into recessions? Central banker says it’s unlikely. The news link on yahoo is here: Recession in Australia unlikely, says central banker. Head of the central Reserve Bank of Australia Glenn Stevens said that the Australian economy was unlikely to experience a recession “any time soon” if inflation was contained. But personally I think it’s quite difficult to predict, because the situation can changed drastically in any time. So, it’s better to prepare. But the government quit confident about this. Stevens said most indicators on the Australian economy’s performance, including employment and business conditions, in early 2008 had remained strong.
