Tuesday, May 26, 2009

Australia coping best with global recession

Top 10 recession refuges:
The top countries best surviving the global recession, according to a survey of 7500 businesspeople from 24 nations.

1st - Australia
2nd - China
3rd - India and Singapore (equal)
5th - Hong Kong
6th - Canada
7th - Japan and Qatar (equal)
9th - New Zealand
10th - Malaysia, Sweden and Vietnam (equal)

Source: Servcorp International Business Confidence Survey.

Well, there you go, who would have thought it? It's not like we didn't binge out on credit like the rest of the world. One saving grace is our system of prudential banking regulations. Another, the four pillar policy, I dare say.

I don't know if it's too early to claim that Rudd's stimulus has worked or not, but there have been signs to encourage this thinking... retail figures are holding steady, the housing market is holding, and we have yet to experience mass sackings. Though my company they are trimming the sails here and there, so to speak.

1 comment:

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