Australia’s economy and public finances have weathered the global slowdown in better shape than most of its peers, but the nation’s future is closely linked to Asia’s continued prosperity. The Asian century will reshape both the global and regional economy, and will have lasting and profound results. Australia is well placed to benefit from Asia’s mounting strength and the shifting global economic landscape, but there will also be challenges ahead.
On August 28, Global Economy and Development at Brookings hosted a discussion on the transformation of the global economic landscape and challenges and opportunities for Australia and other countries in the Asia-Pacific region. Senator the Honorable Penny Wong, minister for finance and deregulation for the Commonwealth of Australia, delivered a keynote address, and was joined by Brookings Senior Fellow Barry Bosworth for a panel discussion following her address. Senior Fellow Homi Kharas, deputy director of Global Economy and Development, moderated the discussion.