mohogony

Which economy is going better at the moment and is best able to handle the financial crisis.

Grayling

Probably very similar.

The important question is....which will be better in the future?

I would back the UK to recover quicker.

bcworld

I think statistically the Aus economy will look much better right now, however I also think it's playing catch up as far as the GFC is concerned.

As the UK economy is far more reliant on financial services and non-manufacturing activities it was able to take an immediate hit in the final quarter of 2008 as the sh!t really hit the fan.

In Aus on the other hand significant capital projects would have already been under way, or at such a stage of planning that they would've continued regardless. Many announcements have now been made though regarding the shelving of projects and I think the effects will now start to be really felt.

Also there are some really dire numbers coming out of Australia's major trading partners in Asia....particularly Japan.

MartinLuther

And HN51 will be in Aus before the UK.


On your past performance it's looking good for Aus

Grayling

Let's wait and see.

It really makes no odds to me...I am not reliant on a job.

harrip

I guess it depends on how you define a better economy. Australia is lagging behind the UK and US in terms of how far into recession we are. The fact that Australia is still a few percentage points from a zero base rate is one indication of that.

Unfortunately I believe worldwide we're only starting to see how bad things are. With governments globally borrowing significantly to "stimulate" economies it is only going to mean one thing - higher interest rates before too long - which is going to be bad news for many.

Grayling

...and good news for many others

harrip

Individually maybe. For the economy as a whole and for people wanting to keep jobs - not.

elfman

if by "reliant" you mean what contributed most to GDP there really isn't that much difference between the two:

GDP - composition by sector: (UK)
agriculture: 0.9%
industry: 22.8%
services: 76.2%

GDP - composition by sector: (Aus)
agriculture: 2.5%
industry: 26.4%
services: 71.1%

https://www.cia.gov/library/publicat...orld-factbook/

Grayling

see post #5

bcworld

Depends on what the composition of the 'services' number is really?

MartinLuther

Nor me.

I bet on some level you actually do care

jond

[QUOTE=MartinLuther;7333582]Nor me.







Bully for you.

I am reliant on a job, well at least for the next 15 years when we have paid our mortage off.

Cheetah7

[QUOTE=jond;7333669] Same here and make that 25 years for us.

Oh to not need a job.

jond

[QUOTE=Professional Princess;7333676]




I like my job, not my mortgage though