Economic policy and security of Australia in the short term until 2025

• Main Author: Mieczysław Sprengel
• Format: Article
• Language: English
• Published: Collegium of Socio-Economics, SGH Warsaw School of Economics 2015-06-01
• Series: Studia z Polityki Publicznej
• Subjects: Australia; Asia; economy; development; safety; income
• Online Access: https://econjournals.sgh.waw.pl/KSzPP/article/view/629

According to the predictions, the scale and rate of economic processes that are about to come in the next decades of the 21st century will be substantial. A further growth of Australia's importance is to be expected in the long term. The whole region of Asia, including Australia, has become interesting for politicians, entrepreneurs and researchers. In the 21st century, Australia has grown to be a significant player in the global economic policy. It seems that the economic future of the world will depend on the development of the countries in Asia. The economic situation in Australia will arguably change as some countries in that region have reached a satisfactory level of production and share in their developed economy. Economic presumptions delineate an optimistic view of the income’s growth in the next decade in Australia. The statistics published by reliable both national and international institutions are helpful in unraveling economic issues, which allow to portray the bright future of Australia until 2025. It seems that the regional economic development will lead to a significant economic revival. The following issues concerning the economic policy and its results have been chosen in order to conduct an analysis: GDP per capita, economic growth, demography, the input of nations and regions in the world’s production and the contribution of Australia in the world’s trade. The substantial number of inhabitants (over a half of the globe’s population) in this region is at the same time a serious proportion of consumers. The ongoing transformation in the life of those countries is the effect of education, communication and technology development. Thereupon, due to the economic and social development of the region, Australia will become its beneficiary and solidify its economic position.