After expanding for the last 26 years, the Australian economy contracted last year, led by the global Covid-19 pandemic. However, the IMF expects the country to return to positive growth in 2021 and 2022.
Australian economy has escaped a recession for 28 years. Despite this run coming to an end, The Lucky Country is well positioned for the future. Heavily exposed to value stocks, its share market should benefit from the recent fiscal stimulus.
The digital boom is making Asia Pacific a leading region in the start-up scene. By the end of September 2019, Asia-Pacific counted 140 start-ups with a valuation of at least $1 billion – out of 403 worldwide.
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