Part 3/9:
Buchanan highlights Australia's remarkable achievement of 25 years of uninterrupted economic growth. While this may sound impressive, he notes the potential risks that come with such a prolonged period without a recession. The Australian economy managed to avoid the Global Financial Crisis (GFC) largely due to government intervention and a robust balance sheet, which included direct monetary injections to consumers. He emphasizes how intertwined Australia’s economy is with China, particularly in terms of resource demand, suggesting that any slowdown in the Chinese economy could have significant implications for Australia.