Australian Government, 2011‑12 Budget

Statement 4: Opportunities and Challenges of an
Economy in Transition

The statement discusses the opportunities and challenges of an economy in transition, particularly those flowing from the shifting weight of the global economy towards Asia. The statement draws policy lessons from an analysis of how the Australian economy has changed over the longer term and in the more recent past. It concludes that the policy settings for managing this transition — particularly whether we embrace changes in the global economy — will be a critical determinant of Australia's future economic success.

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