Global economy

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Australia can expect expansion in sectors such as tourism, the health and financial services sectors, banking and securities. AAP Image/Joel Carrett

As the mining boom wanes, Australia pivots to services

Mining, along with agriculture, will continue to be key parts of the Australian economy -- but new growth is expected in the services sector.
Large movements in relative prices will create winners and losers this year, the IMF has said. EPA/MICHAEL REYNOLDS

China economy to slow, hurting Australia: IMF

A new IMF report predicts a crackdown on cheap credit in China will help reduce China's real GDP growth rate from 7.4% last year to 6.8% this year and further weaken demand for Australian commodities.
Apple’s global network control has helped it achieve bumper profits. Andrey Bayda /

Why Apple is the world’s most successful company – the power of networks

The latest round of quarterly results have recently come out and the likes of Apple and Boeing have announced bumper profits. Others such as Sainsbury’s and Samsung have not fared so well. So what is it…
A trade spat between India and the US was the most serious threat to the WTO in years. Reuters

Why the WTO still matters

Despite sluggishness in the world economy, global trade reached an astonishing US$23 trillion last year. The World Trade Organization has been the primary guarantor of this extraordinary growth in global…
The collapse of Lehman Brothers was a pivotal moment in the most recent financial crisis. The next crash may feature another bank failure. Reuters

What will the next financial crisis look like – and are we ready?

The subprime crisis and the subsequent failure of Lehman Brothers came as such a shock – and the repercussions were so severe that when the time came to mount a response, policy makers were as surprised…
IMF managing director Christine Lagarde says the economic recovery underway in many markets is “brittle, uneven and beset by risks". Dave Hunt/AAP

The world has an economic growth problem, and more G20 spending won’t fix it

Last week the IMF revised its 2014 global economic growth forecast down to 3.3% from the 3.7% expected six months ago, confirming that most economies around the world, Australia included, continue to underperform…
Does this mean Putin is the new Keynes? EPA

The BRICS plan for a new world order begins with a bank

Could history one day judge the latest BRICS summit as significant as the Bretton Woods conference of 1944? That is the hope of leaders from Brazil, Russia, India, China, and South Africa as they meet…
Australia’s economic position remains uncertain, which may prompt the Reserve Bank to hold interest rates. AAP

Waiting game on economy means RBA should hold

Without a clear direction of where the Australian economy is heading, the consensus to keep the cash rate at its current level of 2.5% remains strong. Uncertainties surrounding the domestic and foreign…
A World Bank report gives a hopeful forecast for global growth. Image sourced from

Growth spurt hopes for global economy, but challenges remain

The World Bank’s Global Economic Prospects report released this week is moderately optimistic about the short-term outlook of the global economy. World Bank economists anticipate an improvement in most…
China has far more to lose from too few US dollars than it does from a dollar surplus.

US economic policy: the right settings, disastrous process

The US debt crisis is over for now, but legislators have just kicked the can down the road. In this series on the US debt ceiling, academics from Australia, the UK and the US assess the lingering global…
Those currency reserves must be somewhere, Mr President. White House

US shutdown opens the way for China in global currency markets

The US shutdown and the fractious struggles in Congress are symptomatic of a broader trend in American politics. In the aftermath of the global financial crisis, a new political landscape has emerged…

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