Book contents
- Frontmatter
- Contents
- Tables, Figures and Boxes
- Contributors
- Preface
- Abbreviations
- 1 Middle Power Dreaming: Australian Foreign Policy during the Rudd–Gillard Governments
- 2 The Howard–Downer Legacy: Global Deputy, Regional Sheriff
- 3 Back from the Brink: Australia and the Global Economy 2006–10
- 4 Australia–America 2006–2010: Waiting for Obama
- 5 Australia and China: The Challenges to Forging a ‘True Friendship’
- 6 Australia and Japan: Mobilising the Bilateral Relationship
- 7 Australia and Europe
- 8 Australia’s Strategic and Commercial Engagement with South Asia under Kevin Rudd: The Paradoxes
- 9 Australia, the Pacific Islands and Timor-Leste
- 10 Progress and Limits in Regional Cooperation: Australia and Southeast Asia
- 11 Australian Foreign Policy towards Africa
- 12 Plus Ça Change? The Coalition, Labor and the Challenges of Environmental Foreign Policy
- 13 The Australia 2020 Summit as an Experiment in Foreign Policy-making
- 14 Defence and Security
- 15 Australia’s Foreign Policy Machinery
- 16 Regional, Alliance and Global Priorities of the Rudd–Gillard Governments
- References
- Index
3 - Back from the Brink: Australia and the Global Economy 2006–10
Published online by Cambridge University Press: 04 May 2024
- Frontmatter
- Contents
- Tables, Figures and Boxes
- Contributors
- Preface
- Abbreviations
- 1 Middle Power Dreaming: Australian Foreign Policy during the Rudd–Gillard Governments
- 2 The Howard–Downer Legacy: Global Deputy, Regional Sheriff
- 3 Back from the Brink: Australia and the Global Economy 2006–10
- 4 Australia–America 2006–2010: Waiting for Obama
- 5 Australia and China: The Challenges to Forging a ‘True Friendship’
- 6 Australia and Japan: Mobilising the Bilateral Relationship
- 7 Australia and Europe
- 8 Australia’s Strategic and Commercial Engagement with South Asia under Kevin Rudd: The Paradoxes
- 9 Australia, the Pacific Islands and Timor-Leste
- 10 Progress and Limits in Regional Cooperation: Australia and Southeast Asia
- 11 Australian Foreign Policy towards Africa
- 12 Plus Ça Change? The Coalition, Labor and the Challenges of Environmental Foreign Policy
- 13 The Australia 2020 Summit as an Experiment in Foreign Policy-making
- 14 Defence and Security
- 15 Australia’s Foreign Policy Machinery
- 16 Regional, Alliance and Global Priorities of the Rudd–Gillard Governments
- References
- Index
Summary
An extraordinary development occurred in the Australian economy in the last quarter of 2008: for the first time since the first half of 1991, gross domestic product (GDP) declined. But even more extraordinarily – and despite the then Prime Minister Kevin Rudd’s assertion that ‘the worst global economic recession in 75 years means it is inevitable that Australia too will be dragged into recession’ – data for the first quarter of 2009 showed that the economy had resumed growth. Among the countries of the Organisation for Economic Co-operation and Development, Australia alone avoided recession as conventionally defined (two consecutive quarters of negative growth in GDP).
Keywords
- Type
- Chapter
- Information
- Australia in World Affairs 2006–2010Middle Power Dreaming, pp. 27 - 45Publisher: Cambridge University PressFirst published in: 2024