Australia's Prime Minister Kevin Rudd confronted an intimidating endeavor which he never imagined when he was elected two years in past that he must confront. Australia at that time was poised to enter its 17th year of uninterrupted growth. Commodity exports were booming, largely driven by China's insatiable hunger for raw materials. Subsequently the global monetary crisis erupted in 2008, brewing challenges for the world's largest exporter of coal and iron ore.
Prime Minister Rudd pushed for huge stimulus packages to revive domestic consumption and demand. Yet as an economy heavily dependent on trade, tumbling commodity costs brewed difficult times for its consistent sizeable current account deficit and Australia's trade deficit. Additionally, how should policymakers address the extreme concerns regarding the growing interest in Australia's prized natural resources sector of China?
PUBLICATION DATE: June 18, 2009 PRODUCT #: 709007-PDF-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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