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Emerging Markets

Australia’s luck set to run and run

Politicians often make outlandishly patriotic statements about their country — even when they may have little cause to do so. But when Australia’s Treasurer Wayne Swan recently declared it to be the “best” advanced economy in the world, his claim was more than justified. Australia has, of course, many areas for concern, including a dangerous reliance on Chinese imports, an overheating housing market and fears of uneven growth across the country. But with its natural resources sector booming, a strong banking system and healthy public finances, while much of the rest of world languishes in economic turmoil, Australia looks set to remain the investment destination of choice.

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