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On January 15th 2016 the Sydney Morning Herald published an article discussing Australia and the potential threat of recession in 2016. Australia, like many other countries, is still fighting the slowdown in its economy caused by the Global Financial Crisis that had hit the United States in 2008 and soon after took global dimensions.
Due to the state of the economy at the time and immediate actions taken by the Howard Government at the time, Australia was able to avoid recession as such. But nevertheless many industries and businesses have been impacted by the economic downturn and are still recovering. There are a few areas discussed in the article on how Australia addressed the issue of the recession.
The purpose of this assessment is for you to evaluate the actions of the Australian Government and their overall impact on Australian economy.
The following question has to be addressed:
1. What was the main cause of the Global Financial Crisis (GFC) and why it has spread internationally? Do you believe that it could have been prevented? (This is just a part of the question for reference purpose)
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