11. Australia’s future – still the lucky country or running out of luck?
- Author:
- Gorana Grgic
- Publication Date:
- 02-2020
- Content Type:
- Working Paper
- Institution:
- Institute for Development and International Relations (IRMO)
- Abstract:
- As the world rung in 2020, political analysts across the globe were busy making assessments of the past decade and offering predictions as to the dominant geopolitical, economic and social trends over the next ten years. Subjecting Australia to the same scrutiny leaves an impression the 2010s are going resilience is its greatest success as the country has continued to enjoy uninterrupted economic growth amidst the global financial crisis and in the aftermath of the direst recession to hit the world since the Great Depression. This makes it an absolute record-setter across the Western world. Yet, the optimism that such to be remembered as a decade of missed opportunities as ‘kicking the can down the road’ approach to economy, polity and security start to imperil Australia’s reputation as a lucky country. In brief, Australia’s economic positive trends will endure is fading. While Australia has been spared of the surge of populism that has plagued a significant portion of mature democracies across the West, it has suffered from an unprecedented leadership turnover that has impeded action on the most (figuratively and literally) burning issue it faces – that of climate change. On the foreign and security policy front, successive Australian governments have been walking the diplomatic tightrope as the United States remains to be an indispensable ally, while China takes the prime spot as the country’s largest trading partner. Given the intensification of the US-China rivalry, Australia finds itself needing to find a way out of this Gordian knot. Facing the grim prospects of the precipitously warming planet, the return of great power rivalry, the decline of liberal democracies, and the uncertainties of technological change, 2020s are inevitably going to force Australian decisionmakers to make hard choices.
- Topic:
- Geopolitics, Political stability, and Economic growth
- Political Geography:
- Australia