Australian Prime Minister Kevin Rudd faced a daunting task that he never thought that he would have when he was elected two years ago. Australia at that time was on the verge of its 17th year of continuous growth. Exports of goods are on the rise, largely due to China's voracious appetite for raw materials. Then the global financial crisis erupted in 2008, brewing problems for the world's largest exporter of coal and iron ore. Prime Minister Rudd has insisted on a massive stimulus package to revive domestic consumption and demand. However, as the economy is heavily dependent on trade, falling commodity prices brewed difficult times for the trade deficit to Australia and its constant high current account deficit. What was in the hold for the deficit in Australia, which was in the red, but four years since 1950? In addition, as the political decision of intense concern about China's growing involvement in the natural resources sector securities Australia? "Hide
by Laura Alfaro, Renee Kim Source: Harvard Business School 27 pages. Publication Date: June 18, 2009. Prod. #: 709007-PDF-ENG
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