Watch the video here: https://youtu.be/7ahwA9cQtD0

Australia is the 12th biggest economy in the world by GDP and it's among the list of countries with GDP-per-capita of over USD 50,000.  

The country, also known as the “Wonder Down Under” takes pride in witnessing the longest continuous GDP growth run. After 1991, the country didn’t see any recession for nearly 3 decades. The country with the long coastlines even surfed its way through the 2008 financial crisis without getting much affected. A whole generation in Australia didn’t even know what recession was until 2020.  

For years, the continent-nation remained at a disadvantage for its remoteness from major trading markets like North America and Europe. But the late 20th century resulted in the rise of emerging markets in east and south Asia. It is said that “you are known by the company you keep” and the company and trade with countries China and Japan, along with the added power of globalization, made the Australian economy stronger than ever.  

Estimated at nearly US $20 trillion, Australia has the tenth highest value of natural resources. While the presence of natural resources does not guarantee economic prosperity, and there are plenty of examples, Australia has managed to do very well with its natural resources and meeting the demands of the eastern emerging markets.  #Australia #Aussie #Australian

The video also discusses Australia and China economic indifferences and trade war, population and immigration, population density, urban population, cultural values and impact of consumer spending, research and development, ease of doing business, Australia's tradition food industry, government's debt to GDP ratio, Account deficit and surplus, Australian dollar, mean and median net wealth, super annuation.  

The video also discusses the housing crisis in Australia, its reasons, urban population concentration, banking lending practices for houses, low interest rates and negative gearing.