brief compaision of australian and germanic economy Free Essay, Term Paper and Book Report
Australia and Germany each has its own economy that is completely separate from one another. Germany has traditionally been the economic powerhouse of Europe and remains so to this day despite the tensions and difficulties of its political situation over the past century. Australia is traditionally represented as a country of sheep grazing, boomerangs and wheat. This couldnt be further from the truth. In fact, Australia is only 3% primary industry; most of its economy is generated by its services which total over 75% of its workforce.
Current state of economic growth and inflation
Both countries are performing well as of the second quarter of 2007 and are experiencing positive growth. Possibly due to Australias currently low unemployment its growth was more than Germanys so far this year. Australias GDP or real growth rate lies at a very high 4% while Germanys lies at 2.8% although it is interesting to see that despite Germanys massive economy of $3.25 trillion and Australias comparisingly tiny one of $889 billion (both official exchange rate GDP) that Australians......
Word Count: 1695
Page Count: 6.7 (250 words a page / double spaced)
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